Short Interest in Manhattan Associates, Inc. (NASDAQ:MANH) Rises By 37.2%

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,140,000 shares, an increase of 37.2% from the March 15th total of 1,560,000 shares. Approximately 3.6% of the shares of the company are short sold. Based on an average daily volume of 908,300 shares, the days-to-cover ratio is presently 2.4 days.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MANH shares. StockNews.com downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Loop Capital reiterated a "hold" rating and issued a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. DA Davidson lifted their price objective on shares of Manhattan Associates from $195.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Citigroup dropped their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report 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. Based on data from MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus target price of $213.78.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.72% of the company's stock.

Hedge Funds Weigh In On Manhattan Associates

Hedge funds and other institutional investors have recently modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Manhattan Associates in the 4th quarter valued at about $3,890,000. GDS Wealth Management increased its holdings in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock valued at $1,715,000 after purchasing an additional 4,683 shares during the last quarter. Oak Thistle LLC purchased a new position in Manhattan Associates during the fourth quarter worth approximately $1,326,000. AustralianSuper Pty Ltd boosted its stake in Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock worth $62,890,000 after buying an additional 210,929 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Manhattan Associates in the 4th quarter valued at $1,200,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of MANH traded down $1.11 during trading hours on Thursday, hitting $170.84. 103,014 shares of the stock were exchanged, compared to its average volume of 572,547. The stock's 50-day moving average price is $169.77 and its two-hundred day moving average price is $236.24. Manhattan Associates has a 12-month low of $140.81 and a 12-month high of $312.60. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 48.70 and a beta of 1.36.

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.