Wellington Management Group LLP lowered its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 89.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,316 shares of the software maker's stock after selling 101,490 shares during the period. Wellington Management Group LLP's holdings in Manhattan Associates were worth $3,328,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of MANH. Tokio Marine Asset Management Co. Ltd. bought a new position in Manhattan Associates in the 4th quarter worth about $3,890,000. GDS Wealth Management boosted 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 purchasing an additional 4,683 shares during the last quarter. Oak Thistle LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at $1,326,000. AustralianSuper Pty Ltd increased its holdings in shares of Manhattan Associates by 968.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock worth $62,890,000 after purchasing an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Manhattan Associates in the fourth quarter worth $1,200,000. Hedge funds and other institutional investors own 98.45% of the company's stock.
Manhattan Associates Trading Up 1.1 %
Shares of MANH stock traded up $1.74 during trading hours on Tuesday, reaching $164.35. 568,894 shares of the company's stock were exchanged, compared to its average volume of 559,017. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The stock's 50 day moving average is $173.13 and its 200-day moving average is $241.27. The company has a market cap of $9.98 billion, a price-to-earnings ratio of 46.82 and a beta of 1.36.
Insider Buying and Selling
In related 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. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Raymond James cut their price objective on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. DA Davidson cut their price objective on Manhattan Associates from $270.00 to $195.00 and set a "buy" rating on the stock in a research report on Monday. Loop Capital reiterated a "hold" rating and set a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Citigroup lowered their price target on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, Piper Sandler lowered their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average price target of $212.67.
Check Out Our Latest Analysis on MANH
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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