Stephens Investment Management Group LLC Sells 46,673 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Stephens Investment Management Group LLC trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 9.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 447,214 shares of the software maker's stock after selling 46,673 shares during the period. Stephens Investment Management Group LLC owned 0.74% of Manhattan Associates worth $77,386,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in Manhattan Associates during the 4th quarter worth approximately $25,000. Central Pacific Bank Trust Division grew 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 purchasing an additional 103 shares in the last quarter. Park Square Financial Group LLC purchased a new position in Manhattan Associates during the 4th quarter worth approximately $38,000. Transce3nd LLC purchased a new position in Manhattan Associates during the 4th quarter worth approximately $41,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Manhattan Associates by 144.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock valued at $83,000 after acquiring an additional 182 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on MANH. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price target for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the company an "outperform" rating in a report on Wednesday, May 21st. Loop Capital restated a "hold" rating and set a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. DA Davidson boosted their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Truist Financial boosted their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $208.88.

Manhattan Associates Price Performance

NASDAQ:MANH traded down $3.62 during trading hours on Friday, reaching $196.16. The company's stock had a trading volume of 357,892 shares, compared to its average volume of 640,481. The company has a market cap of $11.91 billion, a price-to-earnings ratio of 56.05 and a beta of 1.08. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The business's 50-day moving average is $192.02 and its 200-day moving average is $197.91.

Manhattan Associates Company Profile

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.