Legal & General Group Plc Sells 132,351 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Legal & General Group Plc lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 31.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 291,231 shares of the software maker's stock after selling 132,351 shares during the period. Legal & General Group Plc owned 0.48% of Manhattan Associates worth $78,702,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MANH. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Manhattan Associates in the fourth quarter worth $3,890,000. GDS Wealth Management grew its holdings in shares of Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock worth $1,715,000 after purchasing an additional 4,683 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at $1,326,000. AustralianSuper Pty Ltd lifted its holdings in shares of Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock worth $62,890,000 after acquiring an additional 210,929 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Manhattan Associates in the fourth quarter valued at $1,200,000. Institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MANH. Truist Financial cut their price objective on Manhattan Associates from $285.00 to $185.00 and set a "buy" rating for the company in a report on Monday. Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Loop Capital reissued a "hold" rating and set a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Finally, StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $212.67.

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Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated 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 directly owns 101,263 shares of the company's stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.72% of the company's stock.

Manhattan Associates Trading Up 1.1 %

Shares of MANH stock traded up $1.74 during trading hours on Tuesday, reaching $164.35. The company's stock had a trading volume of 568,894 shares, compared to its average volume of 559,017. The stock has a market capitalization of $9.98 billion, a P/E ratio of 46.82 and a beta of 1.36. The firm's fifty day simple moving average is $173.13 and its 200 day simple moving average is $241.27. Manhattan Associates, Inc. has a one year low of $140.81 and a one year 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.