Bank of New York Mellon Corp Sells 10,815 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Bank of New York Mellon Corp lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 537,521 shares of the software maker's stock after selling 10,815 shares during the quarter. Bank of New York Mellon Corp owned about 0.88% of Manhattan Associates worth $145,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MANH. Ascent Group LLC lifted its stake in Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker's stock valued at $252,000 after buying an additional 41 shares during the period. Huntington National Bank increased its stake in shares of Manhattan Associates by 5.9% in the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker's stock valued at $247,000 after acquiring an additional 49 shares during the last quarter. Kestra Investment Management LLC raised its position in shares of Manhattan Associates by 2.9% in the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker's stock valued at $555,000 after acquiring an additional 57 shares during the period. CIBC Asset Management Inc boosted its stake in Manhattan Associates by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker's stock worth $506,000 after acquiring an additional 58 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. raised its holdings in Manhattan Associates by 8.3% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker's stock worth $220,000 after purchasing an additional 62 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Stock Performance

MANH traded down $0.04 during trading on Tuesday, reaching $173.06. 276,598 shares of the stock were exchanged, compared to its average volume of 874,500. The stock's 50 day moving average price is $234.45 and its two-hundred day moving average price is $263.27. Manhattan Associates, Inc. has a twelve month low of $169.20 and a twelve month high of $312.60. The stock has a market cap of $10.58 billion, a P/E ratio of 49.33 and a beta of 1.50.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Raymond James cut their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. Truist Financial cut their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. DA Davidson lowered their target price on Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Citigroup cut their price target on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Finally, Piper Sandler reiterated an "overweight" rating and set a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and a consensus price target of $273.33.

Manhattan Associates Company 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.