Allspring Global Investments Holdings LLC Reduces Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Allspring Global Investments Holdings LLC reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,768 shares of the software maker's stock after selling 17,876 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.26% of Manhattan Associates worth $41,886,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fidelis Capital Partners LLC grew its stake in Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker's stock valued at $347,000 after purchasing an additional 40 shares during the last quarter. Ascent Group LLC grew its stake in shares of Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker's stock worth $252,000 after acquiring an additional 41 shares during the last quarter. Huntington National Bank grew its stake in shares of Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker's stock worth $247,000 after acquiring an additional 49 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Manhattan Associates by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker's stock worth $506,000 after acquiring an additional 58 shares during the last quarter. Finally, McGlone Suttner Wealth Management Inc. grew its stake in shares of Manhattan Associates by 8.3% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker's stock worth $220,000 after acquiring an additional 62 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Price Performance

NASDAQ:MANH traded down $3.17 during trading hours on Tuesday, reaching $187.25. The company had a trading volume of 366,777 shares, compared to its average volume of 881,556. The firm has a market cap of $11.44 billion, a PE ratio of 53.35 and a beta of 1.50. The business's 50 day moving average price is $257.02 and its 200-day moving average price is $267.95. Manhattan Associates, Inc. has a 1-year low of $169.94 and a 1-year high of $312.60.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the business's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares of the company's stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Citigroup dropped their price target on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Loop Capital dropped their target price 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. Robert W. Baird upped their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler reiterated an "overweight" rating and issued a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.