Pitcairn Co. Sells 2,835 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Pitcairn Co. trimmed its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 71.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,119 shares of the software maker's stock after selling 2,835 shares during the period. Pitcairn Co.'s holdings in Manhattan Associates were worth $302,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Twin Tree Management LP bought a new position in Manhattan Associates during the fourth quarter worth about $25,000. Whipplewood Advisors LLC bought a new stake in shares of Manhattan Associates in the fourth quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the 4th quarter worth approximately $35,000. Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC lifted its position in Manhattan Associates by 144.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock worth $83,000 after buying an additional 182 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Trading Up 0.7 %

NASDAQ MANH traded up $1.03 during trading on Friday, hitting $158.67. 890,088 shares of the company's stock were exchanged, compared to its average volume of 556,434. The company has a market cap of $9.63 billion, a PE ratio of 45.21 and a beta of 1.36. The stock's 50 day moving average price is $173.89 and its two-hundred day moving average price is $242.38. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

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Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on MANH shares. Citigroup decreased their price target 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. Piper Sandler reduced their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Truist Financial decreased their price target 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. Robert W. Baird dropped their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Finally, DA Davidson raised Manhattan Associates to a "strong-buy" rating in a report on Monday, March 24th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average target price of $232.11.

Manhattan Associates 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.