Teacher Retirement System of Texas decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 102,844 shares of the software maker's stock after selling 1,932 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.17% of Manhattan Associates worth $27,793,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Ascent Group LLC increased its stake in shares of Manhattan Associates by 4.8% in 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. Metis Global Partners LLC increased its position in Manhattan Associates by 7.0% in the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker's stock worth $226,000 after purchasing an additional 55 shares during the last quarter. Kestra Investment Management LLC raised its stake in shares of Manhattan Associates by 2.9% during the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker's stock worth $555,000 after purchasing an additional 57 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Manhattan Associates by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker's stock valued at $506,000 after buying 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% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker's stock valued at $220,000 after buying an additional 62 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on MANH. DA Davidson raised shares of Manhattan Associates to a "strong-buy" rating in a research report on Monday. Citigroup cut their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Piper Sandler cut their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Finally, Robert W. Baird reduced their price target on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $243.78.
Check Out Our Latest Stock Report on MANH
Manhattan Associates Stock Performance
Shares of Manhattan Associates stock traded up $1.58 during trading on Tuesday, reaching $179.55. The company's stock had a trading volume of 671,544 shares, compared to its average volume of 515,069. Manhattan Associates, Inc. has a one year low of $163.10 and a one year high of $312.60. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of 51.15 and a beta of 1.47. The business's fifty day moving average price is $203.99 and its 200-day moving average price is $253.88.
Insider Activity at Manhattan Associates
In related news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction on Thursday, March 6th. The stock was 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 in the company, 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 available through this hyperlink. Corporate insiders own 0.72% of the company's stock.
About Manhattan Associates
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Free Report)
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.
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