Jensen Investment Management Inc. Sells 3,500 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Jensen Investment Management Inc. lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 17.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,030 shares of the software maker’s stock after selling 3,500 shares during the quarter. Jensen Investment Management Inc.’s holdings in Manhattan Associates were worth $4,332,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MANH. Whipplewood Advisors LLC bought a new position in shares of Manhattan Associates during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the 4th quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new position in Manhattan Associates during the 3rd quarter valued at approximately $58,000. Bank of Jackson Hole Trust acquired a new position in Manhattan Associates during the 4th quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC increased its stake in Manhattan Associates by 144.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock valued at $83,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 5.5 %

MANH opened at $172.50 on Monday. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 49.15 and a beta of 1.47. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60. The firm’s fifty day simple moving average is $215.40 and its two-hundred day simple moving average is $257.50.

Analysts Set New Price Targets

A number of brokerages have issued reports on MANH. Raymond James cut 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. Loop Capital cut their price target 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. Citigroup cut their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, DA Davidson cut their price objective on shares of Manhattan Associates from $315.00 to $270.00 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 stock. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $252.56.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’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 of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

Manhattan Associates 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.