Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 35.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,842 shares of the software maker’s stock after selling 67,404 shares during the quarter. Allianz Asset Management GmbH owned about 0.20% of Manhattan Associates worth $32,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Handelsbanken Fonder AB increased its position in Manhattan Associates by 3.2% in the fourth quarter. Handelsbanken Fonder AB now owns 15,888 shares of the software maker’s stock worth $4,294,000 after buying an additional 500 shares during the period. Global Retirement Partners LLC grew its position in shares of Manhattan Associates by 18.8% during the fourth quarter. Global Retirement Partners LLC now owns 4,924 shares of the software maker’s stock worth $1,331,000 after acquiring an additional 779 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates in the 4th quarter worth about $72,000. Kestra Investment Management LLC lifted its position in Manhattan Associates by 2.9% in the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock valued at $555,000 after purchasing an additional 57 shares during the last quarter. Finally, Pembroke Management LTD boosted its stake in Manhattan Associates by 11.8% during the 4th quarter. Pembroke Management LTD now owns 53,633 shares of the software maker’s stock valued at $14,494,000 after purchasing an additional 5,655 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Down 1.9 %

NASDAQ:MANH opened at $182.51 on Monday. The business’s 50-day moving average price is $247.68 and its 200 day moving average price is $266.37. Manhattan Associates, Inc. has a 52-week low of $169.94 and a 52-week high of $312.60. The firm has a market cap of $11.16 billion, a P/E ratio of 52.00 and a beta of 1.50.

Insider Activity

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MANH. Raymond James dropped their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. 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. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.33.

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.