Swiss National Bank Sells 9,800 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Swiss National Bank lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,020 shares of the software maker's stock after selling 9,800 shares during the period. Swiss National Bank owned 0.28% of Manhattan Associates worth $46,757,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in Manhattan Associates in the fourth quarter valued at $3,890,000. GDS Wealth Management increased its stake in Manhattan Associates by 281.4% in the fourth 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 in the fourth quarter valued at $1,326,000. AustralianSuper Pty Ltd increased its stake in Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock valued at $62,890,000 after purchasing an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Manhattan Associates in the fourth quarter valued at $1,200,000. Institutional investors own 98.45% of the company's stock.

Insider Buying and Selling at Manhattan Associates

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

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Manhattan Associates Stock Down 1.2 %

Manhattan Associates stock traded down $2.05 during midday trading on Thursday, hitting $172.44. 861,249 shares of the stock were exchanged, compared to its average volume of 503,933. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 49.13 and a beta of 1.47. The business's 50-day moving average price is $209.62 and its 200-day moving average price is $255.67.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MANH shares. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Raymond James decreased their price target 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. 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 report on Tuesday. DA Davidson decreased their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eight have assigned a 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.