Hsbc Holdings PLC trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 33.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,349 shares of the software maker's stock after selling 11,969 shares during the period. Hsbc Holdings PLC's holdings in Manhattan Associates were worth $6,588,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Metis Global Partners LLC boosted its holdings in shares of Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker's stock worth $226,000 after acquiring an additional 55 shares during the period. Kestra Investment Management LLC lifted its holdings in Manhattan Associates by 2.9% during the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker's stock worth $555,000 after purchasing an additional 57 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its position in Manhattan Associates by 8.3% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker's stock worth $220,000 after buying an additional 62 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in Manhattan Associates by 2.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker's stock worth $678,000 after buying an additional 63 shares during the period. Finally, Kathmere Capital Management LLC boosted its position in shares of Manhattan Associates by 7.8% in the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker's stock valued at $254,000 after acquiring an additional 68 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.
Manhattan Associates Stock Up 2.7 %
Shares of NASDAQ:MANH traded up $4.78 during trading on Friday, hitting $183.41. 527,713 shares of the company were exchanged, compared to its average volume of 574,463. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The company has a market capitalization of $11.14 billion, a P/E ratio of 52.25 and a beta of 1.36. The business's 50 day moving average is $168.86 and its 200-day moving average is $229.56.
Insider Buying and Selling at Manhattan Associates
In related news, CFO Dennis B. Story sold 2,788 shares of the firm's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.88% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on MANH shares. Truist Financial lifted their price objective on shares of Manhattan Associates from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Loop Capital reissued a "hold" rating and set a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Citigroup dropped their price target on 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, Robert W. Baird dropped their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $212.38.
Get Our Latest Stock Report on MANH
About Manhattan Associates
(
Free Report)
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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