Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 28.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,047 shares of the software maker's stock after selling 5,547 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Manhattan Associates were worth $3,796,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MANH. Townsquare Capital LLC grew its position in shares of Manhattan Associates by 16.2% in the 3rd quarter. Townsquare Capital LLC now owns 1,901 shares of the software maker's stock valued at $535,000 after buying an additional 265 shares during the last quarter. Verition Fund Management LLC acquired a new position in Manhattan Associates in the third quarter valued at $990,000. Ascent Group LLC increased its position 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 purchasing an additional 41 shares in the last quarter. HighTower Advisors LLC increased its position in shares of Manhattan Associates by 6.4% during the third quarter. HighTower Advisors LLC now owns 5,002 shares of the software maker's stock worth $1,415,000 after purchasing an additional 301 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Manhattan Associates by 13.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,762 shares of the software maker's stock valued at $777,000 after purchasing an additional 332 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

NASDAQ:MANH traded down $5.65 during mid-day trading on Monday, reaching $146.40. The stock had a trading volume of 1,603,353 shares, compared to its average volume of 543,678. The business has a 50 day simple moving average of $181.91 and a 200 day simple moving average of $247.14. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 41.71 and a beta of 1.36.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated 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 owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Citigroup cut their price target on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Loop Capital cut their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Piper Sandler decreased their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Truist Financial dropped their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Finally, Robert W. Baird decreased their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $243.78.

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.