Victory Capital Management Inc. lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 8.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,951 shares of the software maker's stock after selling 2,927 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of Manhattan Associates worth $8,634,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Manhattan Associates during the 4th quarter worth $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates in the fourth quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new stake in Manhattan Associates in the third quarter worth about $42,000. Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates during the 3rd quarter worth approximately $58,000. Finally, Bank of Jackson Hole Trust acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $72,000. 98.45% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on MANH shares. Raymond James dropped their price objective on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a report on Wednesday, January 29th. Citigroup cut their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a report on Monday, January 27th. Loop Capital decreased their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Truist Financial lowered their price target on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a 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 analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average price target of $273.33.
Check Out Our Latest Stock Report on Manhattan Associates
Manhattan Associates Trading Down 1.9 %
Shares of MANH opened at $163.50 on Friday. The company's fifty day simple moving average is $219.52 and its 200 day simple moving average is $258.82. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 46.58 and a beta of 1.47.
About Manhattan Associates
(
Free Report)
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.
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