Man Group plc Sells 33,037 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Man Group plc lessened its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 33.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,350 shares of the software maker's stock after selling 33,037 shares during the quarter. Man Group plc owned about 0.11% of Manhattan Associates worth $17,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after buying an additional 687,933 shares during the last quarter. Kathmere Capital Management LLC lifted 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 worth $254,000 after purchasing an additional 68 shares in the last quarter. Park Avenue Securities LLC increased its stake in Manhattan Associates by 21.5% in the 4th quarter. Park Avenue Securities LLC now owns 3,825 shares of the software maker's stock valued at $1,034,000 after buying an additional 676 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Manhattan Associates during the 4th quarter worth about $436,000. Finally, HB Wealth Management LLC bought a new position in shares of Manhattan Associates in the 4th quarter valued at about $315,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on MANH shares. Robert W. Baird lowered their price target on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Piper Sandler cut their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Truist Financial boosted their target price on Manhattan Associates from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Loop Capital restated a "hold" rating and issued a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Finally, Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of "Moderate Buy" and a consensus price target of $205.57.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded down $1.21 during trading on Tuesday, reaching $191.85. 608,668 shares of the stock traded hands, compared to its average volume of 585,013. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The company has a 50-day moving average of $172.89 and a 200-day moving average of $222.82. The stock has a market capitalization of $11.65 billion, a P/E ratio of 54.66 and a beta of 1.13.

Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated 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 represents a 2.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.88% of the stock is currently owned by insiders.

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.