Royal Bank of Canada Decreases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Royal Bank of Canada decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 6.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 456,116 shares of the software maker's stock after selling 32,105 shares during the period. Royal Bank of Canada owned approximately 0.75% of Manhattan Associates worth $123,261,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. bought a new position in Manhattan Associates during the fourth quarter valued at $3,890,000. GDS Wealth Management boosted its stake in shares of Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock valued at $1,715,000 after purchasing an additional 4,683 shares during the period. AustralianSuper Pty Ltd boosted its stake in shares of Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock valued at $62,890,000 after purchasing an additional 210,929 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at $1,200,000. Finally, Smith Group Asset Management LLC boosted its stake in shares of Manhattan Associates by 1.8% during the fourth quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker's stock valued at $25,195,000 after purchasing an additional 1,641 shares during the period. Institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Robert W. Baird set a $212.00 target price on shares of Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday. DA Davidson boosted their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday. Citigroup lowered their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Finally, Truist Financial boosted their target price on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $210.14.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.88% of the stock is owned by insiders.

Manhattan Associates Stock Down 1.2%

NASDAQ:MANH traded down $2.26 during mid-day trading on Friday, reaching $185.23. The company's stock had a trading volume of 692,253 shares, compared to its average volume of 589,240. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The stock has a fifty day moving average of $174.25 and a 200-day moving average of $220.85. The firm has a market capitalization of $11.25 billion, a PE ratio of 52.77 and a beta of 1.13.

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.