Guggenheim Capital LLC Has $558,000 Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Guggenheim Capital LLC lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 64.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,066 shares of the software maker's stock after selling 3,803 shares during the period. Guggenheim Capital LLC's holdings in Manhattan Associates were worth $558,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Tokio Marine Asset Management Co. Ltd. bought a new stake in Manhattan Associates in the fourth quarter valued at $3,890,000. GDS Wealth Management increased its position in shares of Manhattan Associates by 281.4% during the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock worth $1,715,000 after purchasing an additional 4,683 shares in the last quarter. Oak Thistle LLC bought a new position in Manhattan Associates during the 4th quarter valued at about $1,326,000. AustralianSuper Pty Ltd boosted its position in Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock valued at $62,890,000 after buying an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Manhattan Associates during the fourth quarter worth about $1,200,000. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Trading Up 1.7 %

Shares of NASDAQ:MANH traded up $2.98 during mid-day trading on Thursday, reaching $180.37. The stock had a trading volume of 84,856 shares, compared to its average volume of 570,888. The firm has a market cap of $10.95 billion, a PE ratio of 51.43 and a beta of 1.36. The firm has a 50 day simple moving average of $168.72 and a two-hundred day simple moving average of $232.27. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.

Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MANH. Citigroup dropped their price target on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a report on Friday, March 14th. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Piper Sandler reduced their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. Raymond James lowered their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial increased their price target on shares of Manhattan Associates from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $212.38.

Manhattan Associates 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.