Wells Fargo & Company MN decreased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,444 shares of the software maker's stock after selling 14,160 shares during the quarter. Wells Fargo & Company MN owned about 0.29% of Manhattan Associates worth $48,223,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of MANH. Massachusetts Financial Services Co. MA boosted its holdings in Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock valued at $452,321,000 after purchasing an additional 841,276 shares during the last quarter. Norges Bank purchased a new position in Manhattan Associates in the fourth quarter worth approximately $201,377,000. JPMorgan Chase & Co. increased its stake in Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Franklin Resources Inc. raised its position in Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after purchasing an additional 578,295 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Manhattan Associates by 275.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker's stock worth $131,539,000 after purchasing an additional 357,172 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Truist Financial reduced their price objective on shares of Manhattan Associates from $285.00 to $185.00 and set a "buy" rating on the stock in a report on Monday. Loop Capital reaffirmed a "hold" rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a 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. Finally, Citigroup dropped their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and an average price target of $221.00.
View Our Latest Stock Analysis on Manhattan Associates
Manhattan Associates Stock Performance
MANH stock traded up $2.92 during mid-day trading on Monday, reaching $161.59. The company had a trading volume of 390,022 shares, compared to its average volume of 556,973. The firm has a fifty day simple moving average of $173.89 and a 200 day simple moving average of $242.09. The company has a market capitalization of $9.81 billion, a price-to-earnings ratio of 46.04 and a beta of 1.36. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.
Insider Activity at Manhattan Associates
In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction 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 of the company's stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.
About Manhattan Associates
(
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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