Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 8.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 147,415 shares of the software maker's stock after selling 13,304 shares during the period. Envestnet Asset Management Inc. owned about 0.24% of Manhattan Associates worth $39,838,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Metis Global Partners LLC raised its position in shares of Manhattan Associates by 7.0% during the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker's stock valued at $226,000 after buying an additional 55 shares in the last quarter. Kestra Investment Management LLC increased its position in Manhattan Associates by 2.9% during the fourth 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 last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Manhattan Associates by 8.3% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker's stock worth $220,000 after acquiring an additional 62 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Manhattan Associates by 2.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker's stock worth $678,000 after purchasing an additional 63 shares during the period. Finally, Kathmere Capital Management LLC grew its stake in shares of Manhattan Associates by 7.8% during the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker's stock valued at $254,000 after buying an additional 68 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on MANH shares. Robert W. Baird reduced their price objective on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Raymond James dropped their target price 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. Truist Financial decreased their target price on shares of Manhattan Associates from $285.00 to $185.00 and set a "buy" rating for the company in a research report on Monday. Loop Capital reissued a "hold" rating and issued a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Finally, Piper Sandler decreased their price target on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average target price of $212.67.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the company'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 transaction, the chief financial officer now owns 101,263 shares of the company's stock, valued at $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 available at this hyperlink. 0.72% of the stock is owned by insiders.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded up $0.83 during midday trading on Thursday, hitting $161.92. The company had a trading volume of 104,049 shares, compared to its average volume of 559,360. The business's 50-day simple moving average is $171.66 and its 200-day simple moving average is $240.18. The stock has a market cap of $9.83 billion, a price-to-earnings ratio of 46.13 and a beta of 1.36. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month 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.