Rhumbline Advisers Lowers Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Rhumbline Advisers trimmed its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,913 shares of the software maker's stock after selling 2,066 shares during the period. Rhumbline Advisers owned about 0.33% of Manhattan Associates worth $34,593,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Twin Tree Management LP bought a new position in shares of Manhattan Associates during the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new position in Manhattan Associates during the fourth quarter worth $34,000. Park Square Financial Group LLC bought a new position in Manhattan Associates in the fourth quarter valued at $38,000. Transce3nd LLC acquired a new stake in Manhattan Associates in the 4th quarter valued at $41,000. Finally, Central Pacific Bank Trust Division lifted its position in Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after buying an additional 103 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Trading Up 1.4%

NASDAQ MANH traded up $2.60 on Friday, hitting $192.78. 625,138 shares of the company were exchanged, compared to its average volume of 621,293. The stock has a fifty day moving average of $176.69 and a 200-day moving average of $215.52. The company has a market cap of $11.70 billion, a PE ratio of 54.92 and a beta of 1.08. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Robert W. Baird set a $212.00 target price on Manhattan Associates and gave the company an "outperform" rating in a research report on Wednesday, May 21st. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. DA Davidson boosted their price target on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Truist Financial increased their price objective on Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Finally, Loop Capital reissued a "hold" rating and issued a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.14.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.