Manhattan Associates, Inc. (NASDAQ:MANH) Stock Holdings Lessened by Banco Santander S.A.

Banco Santander S.A. trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 41.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 42,837 shares of the software maker's stock after selling 30,403 shares during the period. Banco Santander S.A. owned approximately 0.07% of Manhattan Associates worth $11,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in Manhattan Associates during the 4th quarter valued at about $3,890,000. GDS Wealth Management boosted its holdings in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock valued at $1,715,000 after acquiring an additional 4,683 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $1,326,000. AustralianSuper Pty Ltd raised its holdings in Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock worth $62,890,000 after purchasing an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Manhattan Associates in the fourth quarter worth approximately $1,200,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MANH. Piper Sandler reissued an "overweight" rating and issued a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. 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 report on Wednesday, January 29th. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, DA Davidson cut their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $273.33.

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Manhattan Associates Stock Up 1.5 %

Shares of MANH stock traded up $2.43 during trading hours on Tuesday, reaching $168.07. 151,565 shares of the stock traded hands, compared to its average volume of 494,556. The firm has a market capitalization of $10.27 billion, a PE ratio of 47.59 and a beta of 1.47. Manhattan Associates, Inc. has a 1-year low of $164.48 and a 1-year high of $312.60. The business has a fifty day moving average price of $223.64 and a 200 day moving average price of $260.14.

Insiders Place Their Bets

In other 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 value of $476,274.04. Following the completion of the sale, the chief financial officer now owns 101,263 shares of the company's stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.72% of the company's stock.

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.