Edgestream Partners L.P. Sells 8,914 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Edgestream Partners L.P. trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 67.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,388 shares of the software maker's stock after selling 8,914 shares during the period. Edgestream Partners L.P.'s holdings in Manhattan Associates were worth $1,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ascent Group LLC grew its holdings in shares of Manhattan Associates by 4.8% during the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker's stock worth $252,000 after purchasing an additional 41 shares in the last quarter. Huntington National Bank lifted its position in Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker's stock worth $247,000 after purchasing an additional 49 shares during the period. Metis Global Partners LLC boosted its stake in Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker's stock worth $226,000 after buying an additional 55 shares in the last quarter. Kestra Investment Management LLC increased its holdings in 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 buying an additional 57 shares during the period. Finally, CIBC Asset Management Inc raised its stake in shares of Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker's stock valued at $506,000 after buying an additional 58 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MANH. Truist Financial decreased their target price 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. Loop Capital decreased their price objective on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Citigroup dropped their target price on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating for the company in a report on Monday, January 27th. Raymond James decreased their price target on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. 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 research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus target price of $273.33.

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Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $167.52 on Wednesday. The business's fifty day moving average is $221.59 and its two-hundred day moving average is $259.47. The firm has a market cap of $10.24 billion, a P/E ratio of 47.73 and a beta of 1.47. Manhattan Associates, Inc. has a 52 week low of $164.48 and a 52 week high of $312.60.

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.

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