Harvest Fund Management Co. Ltd Decreases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Harvest Fund Management Co. Ltd trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 58.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,376 shares of the software maker’s stock after selling 1,975 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Manhattan Associates were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Ascent Group LLC increased its stake in shares of Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after buying an additional 41 shares during the period. Metis Global Partners LLC increased its position in Manhattan Associates by 7.0% during the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock valued at $226,000 after purchasing an additional 55 shares during the period. Kestra Investment Management LLC increased its position in Manhattan Associates by 2.9% during 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 period. CIBC Asset Management Inc increased its position in Manhattan Associates by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after purchasing an additional 58 shares during the period. Finally, McGlone Suttner Wealth Management Inc. increased its position in Manhattan Associates by 8.3% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock valued at $220,000 after purchasing an additional 62 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on MANH. DA Davidson reduced 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 report on Wednesday, January 29th. Robert W. Baird reduced their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Raymond James reduced their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Citigroup reduced their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the company’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 owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $171.08 on Friday. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 48.74 and a beta of 1.47. The firm’s 50-day moving average is $205.73 and its 200 day moving average is $254.44. Manhattan Associates, Inc. has a 1 year low of $163.10 and a 1 year high of $312.60.

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.