GW&K Investment Management LLC Lowers Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

GW&K Investment Management LLC lessened its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 20.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,751 shares of the software maker's stock after selling 80,806 shares during the quarter. Manhattan Associates accounts for 0.7% of GW&K Investment Management LLC's investment portfolio, making the stock its 26th largest position. GW&K Investment Management LLC owned approximately 0.51% of Manhattan Associates worth $83,707,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in Manhattan Associates during the third quarter valued at about $234,249,000. JPMorgan Chase & Co. grew its position in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock valued at $284,169,000 after acquiring an additional 687,933 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Manhattan Associates by 275.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker's stock valued at $131,539,000 after acquiring an additional 357,172 shares during the period. Swedbank AB increased its stake in shares of Manhattan Associates by 1,840.3% during the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker's stock worth $99,724,000 after purchasing an additional 350,000 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its holdings in shares of Manhattan Associates by 968.0% in the 4th 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 during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Down 1.0 %

Shares of MANH stock traded down $1.68 during trading hours on Tuesday, reaching $171.41. The stock had a trading volume of 715,815 shares, compared to its average volume of 878,647. The stock's fifty day simple moving average is $234.45 and its 200 day simple moving average is $263.27. The firm has a market capitalization of $10.48 billion, a PE ratio of 48.83 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $169.20 and a 12 month high of $312.60.

Analysts Set New Price Targets

A number of research firms have issued reports on MANH. Raymond James decreased their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Piper Sandler restated an "overweight" rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Truist Financial cut their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, DA Davidson lowered their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $273.33.

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.