Robeco Institutional Asset Management B.V. Trims Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Robeco Institutional Asset Management B.V. cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 68.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,582 shares of the software maker's stock after selling 102,427 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.08% of Manhattan Associates worth $8,234,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Twin Tree Management LP purchased a new position in shares of Manhattan Associates during the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division increased its holdings in Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after buying an additional 103 shares during the period. Park Square Financial Group LLC purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $38,000. Finally, Transce3nd LLC purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $41,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

MANH stock opened at $197.25 on Monday. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The stock has a market capitalization of $11.98 billion, a PE ratio of 56.36 and a beta of 1.08. The company has a fifty day moving average of $186.76 and a 200-day moving average of $203.39.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler dropped their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and cut their target price for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. DA Davidson boosted their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Robert W. Baird set a $212.00 price objective on shares of Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Finally, Loop Capital reaffirmed a "hold" rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $208.88.

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.

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