National Pension Service Decreases Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

National Pension Service lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,542 shares of the software maker's stock after selling 14,600 shares during the quarter. National Pension Service owned 0.17% of Manhattan Associates worth $28,251,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MANH. Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in Manhattan Associates in the fourth quarter valued at approximately $35,000. Ashton Thomas Securities LLC purchased a new stake in Manhattan Associates in the 3rd quarter worth about $42,000. Brooklyn Investment Group bought a new stake in Manhattan Associates in the 3rd quarter valued at about $58,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $72,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Stock Up 0.9 %

Shares of NASDAQ MANH traded up $1.52 on Wednesday, reaching $172.93. 568,134 shares of the company's stock traded hands, compared to its average volume of 878,244. The business's 50 day simple moving average is $232.23 and its two-hundred day simple moving average is $262.67. Manhattan Associates, Inc. has a 12 month low of $168.04 and a 12 month high of $312.60. The company has a market cap of $10.57 billion, a price-to-earnings ratio of 49.27 and a beta of 1.50.

Wall Street Analyst Weigh In

MANH has been the subject of several recent analyst reports. Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Truist Financial dropped their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Loop Capital dropped their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. DA Davidson cut their target price on Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Finally, William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average price target of $273.33.

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.