Manhattan Associates, Inc. (NASDAQ:MANH) Sees Significant Growth in Short Interest

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,380,000 shares, a growth of 20.0% from the February 13th total of 1,150,000 shares. Based on an average daily volume of 727,300 shares, the days-to-cover ratio is presently 1.9 days. Currently, 2.3% of the company's stock are sold short.

Manhattan Associates Stock Down 0.8 %

Shares of NASDAQ:MANH traded down $1.36 on Friday, reaching $171.08. 2,852,768 shares of the company's stock were exchanged, compared to its average volume of 513,644. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 48.74 and a beta of 1.47. Manhattan Associates has a fifty-two week low of $163.10 and a fifty-two week high of $312.60. The business's 50-day moving average is $205.73 and its two-hundred day moving average is $254.44.

Wall Street Analyst Weigh In

A number of research firms have commented on MANH. Citigroup reduced their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird reduced their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Loop Capital reduced their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $243.78.

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Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction on Thursday, March 6th. The shares were 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 Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company's stock.

Institutional Trading of Manhattan Associates

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Manhattan Associates by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock worth $1,811,299,000 after acquiring an additional 50,538 shares during the period. FMR LLC increased its holdings in shares of Manhattan Associates by 16.2% in the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock worth $602,005,000 after acquiring an additional 310,257 shares during the period. State Street Corp increased its holdings in shares of Manhattan Associates by 0.6% in the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker's stock worth $619,918,000 after acquiring an additional 12,787 shares during the period. Franklin Resources Inc. increased its holdings in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after acquiring an additional 578,295 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Manhattan Associates by 3.1% in the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after acquiring an additional 55,334 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

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.