Stephens Investment Management Group LLC Reduces Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Stephens Investment Management Group LLC decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 493,887 shares of the software maker's stock after selling 44,149 shares during the quarter. Manhattan Associates makes up 1.8% of Stephens Investment Management Group LLC's portfolio, making the stock its 2nd biggest holding. Stephens Investment Management Group LLC owned 0.81% of Manhattan Associates worth $133,468,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $3,890,000. GDS Wealth Management raised its position 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 purchasing an additional 4,683 shares in the last quarter. Oak Thistle LLC bought a new stake in Manhattan Associates during the 4th quarter valued at $1,326,000. Smith Group Asset Management LLC raised 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 valued at $25,195,000 after purchasing an additional 1,641 shares in the last quarter. Finally, Dock Street Asset Management Inc. raised its position in Manhattan Associates by 6.1% during 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 in the last quarter. Institutional investors own 98.45% of the company's stock.

Insider Transactions at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

Analyst Ratings Changes

MANH has been the subject of a number of research analyst reports. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Truist Financial reduced their price target on 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 reduced their price target on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Piper Sandler restated an "overweight" rating and set a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus target price of $273.33.

Manhattan Associates Price Performance

NASDAQ MANH traded up $3.62 during trading hours on Wednesday, reaching $181.95. The company's stock had a trading volume of 1,614,349 shares, compared to its average volume of 875,723. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 51.84 and a beta of 1.50. Manhattan Associates, Inc. has a 1-year low of $169.94 and a 1-year high of $312.60. The company's 50-day moving average is $263.75 and its two-hundred day moving average is $269.21.

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.