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

Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) saw a large decline in short interest in January. As of January 31st, there was short interest totalling 1,120,000 shares, a decline of 35.3% from the January 15th total of 1,730,000 shares. Approximately 1.9% of the company's shares are sold short. Based on an average trading volume of 574,300 shares, the days-to-cover ratio is presently 2.0 days.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company's stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in MANH. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at about $3,890,000. GDS Wealth Management raised its stake in Manhattan Associates by 281.4% during the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock valued at $1,715,000 after acquiring an additional 4,683 shares during the last quarter. Oak Thistle LLC acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $1,326,000. Smith Group Asset Management LLC lifted its position in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker's stock worth $25,195,000 after acquiring an additional 1,641 shares during the period. Finally, Dock Street Asset Management Inc. grew its stake in shares of Manhattan Associates by 6.1% in the 4th quarter. Dock Street Asset Management Inc. now owns 72,031 shares of the software maker's stock valued at $19,466,000 after purchasing an additional 4,137 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of MANH stock traded up $2.83 during mid-day trading on Monday, hitting $190.41. 857,847 shares of the stock were exchanged, compared to its average volume of 693,494. The stock's fifty day simple moving average is $257.02 and its two-hundred day simple moving average is $267.95. Manhattan Associates has a 12-month low of $169.94 and a 12-month high of $312.60. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 54.25 and a beta of 1.50.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MANH shares. Citigroup lowered their price objective on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating for the company in a research report on Monday, January 27th. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday. 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 report on Wednesday, January 29th. Raymond James decreased 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 report on Wednesday, January 29th. Finally, Piper Sandler reissued an "overweight" rating and issued a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $273.33.

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.