Jensen Investment Management Inc. Has $4.33 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Jensen Investment Management Inc. decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 17.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,030 shares of the software maker's stock after selling 3,500 shares during the period. Jensen Investment Management Inc.'s holdings in Manhattan Associates were worth $4,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA bought a new stake in Manhattan Associates during the third quarter worth $234,249,000. JPMorgan Chase & Co. lifted 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 worth $284,169,000 after buying an additional 687,933 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker's stock valued at $131,539,000 after buying an additional 357,172 shares in the last quarter. Swedbank AB grew its position in Manhattan Associates by 1,840.3% in the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker's stock valued at $99,724,000 after acquiring an additional 350,000 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its position in Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock valued at $62,890,000 after acquiring an additional 210,929 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Robert W. Baird cut their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a research report on Tuesday. Piper Sandler lowered their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Truist Financial cut their price objective on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Finally, Loop Capital reduced their price objective on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $243.78.

Manhattan Associates Trading Down 1.2 %

MANH stock traded down $2.05 during trading on Thursday, hitting $172.44. The company had a trading volume of 861,249 shares, compared to its average volume of 503,933. The stock has a market cap of $10.54 billion, a PE ratio of 49.13 and a beta of 1.47. The business has a 50-day moving average of $209.62 and a 200-day moving average of $255.67. Manhattan Associates, Inc. has a one year low of $163.10 and a one year high of $312.60.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

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.