Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Achmea Investment Management B.V.

Achmea Investment Management B.V. lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 35.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,068 shares of the software maker's stock after selling 3,366 shares during the period. Achmea Investment Management B.V.'s holdings in Manhattan Associates were worth $1,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of MANH. Atria Investments Inc lifted its holdings in shares of Manhattan Associates by 19.0% in the third quarter. Atria Investments Inc now owns 7,551 shares of the software maker's stock valued at $2,125,000 after purchasing an additional 1,203 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Manhattan Associates in the third quarter valued at about $337,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Manhattan Associates by 1.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 129,578 shares of the software maker's stock valued at $36,461,000 after purchasing an additional 1,779 shares in the last quarter. KBC Group NV lifted its holdings in shares of Manhattan Associates by 70.9% in the third quarter. KBC Group NV now owns 28,355 shares of the software maker's stock valued at $7,979,000 after purchasing an additional 11,762 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in shares of Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker's stock valued at $247,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

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Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the company's 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Price Performance

MANH stock traded up $1.71 on Wednesday, hitting $174.49. 659,907 shares of the company were exchanged, compared to its average volume of 502,278. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60. The business's fifty day moving average is $211.58 and its two-hundred day moving average is $256.24. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 49.71 and a beta of 1.47.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Loop Capital reduced their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Citigroup cut their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Robert W. Baird cut their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $243.78.

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.