Swiss National Bank Sells 6,600 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Swiss National Bank reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 193,220 shares of the software maker's stock after selling 6,600 shares during the period. Swiss National Bank owned 0.31% of Manhattan Associates worth $41,604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker's stock worth $25,000 after buying an additional 83 shares during the period. Bear Mountain Capital Inc. acquired a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC increased its position in Manhattan Associates by 28.8% during the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker's stock worth $44,000 after purchasing an additional 46 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in Manhattan Associates by 25.9% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker's stock worth $61,000 after purchasing an additional 58 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MANH. Citigroup reduced their target price on Manhattan Associates from $260.00 to $220.00 and set a "neutral" rating on the stock in a report on Wednesday, April 24th. Raymond James raised their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, January 31st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday, April 24th. DA Davidson upgraded Manhattan Associates from a "neutral" rating to a "buy" rating and increased their price target for the company from $220.00 to $240.00 in a report on Thursday, April 25th. Finally, Truist Financial boosted their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a "buy" rating in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $234.86.

Manhattan Associates Stock Down 0.9 %

Shares of Manhattan Associates stock traded down $2.02 during trading hours on Wednesday, hitting $214.62. 328,518 shares of the company's stock traded hands, compared to its average volume of 393,258. Manhattan Associates, Inc. has a twelve month low of $167.29 and a twelve month high of $266.94. The company has a market cap of $13.21 billion, a PE ratio of 70.14 and a beta of 1.45. The stock has a 50 day simple moving average of $237.80 and a 200-day simple moving average of $227.43.

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.