TD Asset Management Inc. Trims Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

TD Asset Management Inc. trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 24.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 367,066 shares of the software maker's stock after selling 118,799 shares during the quarter. TD Asset Management Inc. owned 0.60% of Manhattan Associates worth $99,196,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MANH. Twin Tree Management LP bought a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new position in Manhattan Associates during the fourth quarter worth $34,000. Synergy Asset Management LLC bought a new position in Manhattan Associates during the fourth quarter valued at $35,000. Brooklyn Investment Group bought a new stake in shares of Manhattan Associates in the 3rd quarter worth about $58,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates during the 4th quarter worth about $72,000. Institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

MANH has been the subject of several recent analyst reports. Truist Financial dropped their target price 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. Piper Sandler cut their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. 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. Finally, DA Davidson raised shares of Manhattan Associates to a "strong-buy" rating in a research note on Monday. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $243.78.

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Insider Activity at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the business's 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 owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Price Performance

Manhattan Associates stock traded down $1.34 during trading hours on Friday, reaching $173.48. The stock had a trading volume of 656,432 shares, compared to its average volume of 529,360. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 49.42 and a beta of 1.47. The business's 50 day moving average price is $198.17 and its 200-day moving average price is $252.30. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60.

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.