Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 294.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,959 shares of the software maker's stock after acquiring an additional 2,209 shares during the period. Sequoia Financial Advisors LLC's holdings in Manhattan Associates were worth $800,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates during the 4th quarter worth approximately $35,000. Brooklyn Investment Group purchased a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $58,000. Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates during the 4th quarter worth approximately $72,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Manhattan Associates by 255.2% during the 4th quarter. Geneos Wealth Management Inc. now owns 309 shares of the software maker's stock worth $84,000 after purchasing an additional 222 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business'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 transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.72% of the company's stock.

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Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded down $2.05 during midday trading on Thursday, hitting $172.44. 861,249 shares of the company's stock traded hands, compared to its average volume of 862,349. The company has a market cap of $10.54 billion, a PE ratio of 49.13 and a beta of 1.47. The firm's fifty day moving average price is $209.62 and its two-hundred day moving average price is $255.67. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MANH shares. 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 research note on Wednesday, January 29th. DA Davidson dropped their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Raymond James lowered their target price 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. Piper Sandler lowered their target price 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. Finally, Citigroup lowered their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus target price of $243.78.

About Manhattan Associates

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.