Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 29.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 711,777 shares of the software maker's stock after selling 298,136 shares during the quarter. JPMorgan Chase & Co. owned 1.17% of Manhattan Associates worth $192,351,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MANH. Vanguard Group Inc. grew its position in Manhattan Associates by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock valued at $1,811,299,000 after buying an additional 50,538 shares during the period. State Street Corp boosted its stake in shares of Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker's stock worth $619,918,000 after acquiring an additional 12,787 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Manhattan Associates by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker's stock valued at $426,308,000 after acquiring an additional 82,995 shares during the period. American Century Companies Inc. increased its stake in shares of Manhattan Associates by 3.3% in the 4th quarter. American Century Companies Inc. now owns 859,054 shares of the software maker's stock valued at $232,151,000 after purchasing an additional 27,774 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Manhattan Associates by 9.2% in the 4th quarter. William Blair Investment Management LLC now owns 682,013 shares of the software maker's stock worth $184,307,000 after purchasing an additional 57,586 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded down $9.71 during midday trading on Friday, hitting $152.05. The company's stock had a trading volume of 1,148,712 shares, compared to its average volume of 539,213. The company has a market cap of $9.29 billion, a P/E ratio of 43.32 and a beta of 1.47. Manhattan Associates, Inc. has a 12-month low of $150.20 and a 12-month high of $312.60. The business's 50 day simple moving average is $184.74 and its 200 day simple moving average is $248.19.

Analyst Ratings Changes

MANH has been the topic of several research analyst reports. Citigroup dropped their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Loop Capital dropped their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Truist Financial reduced their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Piper Sandler decreased 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. Finally, StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $243.78.

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.