Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Marietta Investment Partners LLC

Marietta Investment Partners LLC reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,858 shares of the software maker’s stock after selling 80 shares during the period. Manhattan Associates makes up approximately 1.5% of Marietta Investment Partners LLC’s investment portfolio, making the stock its 20th biggest holding. Marietta Investment Partners LLC’s holdings in Manhattan Associates were worth $6,718,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Ascent Group LLC raised its holdings in shares of Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after purchasing an additional 41 shares during the last quarter. Metis Global Partners LLC increased its holdings in Manhattan Associates by 7.0% in the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock valued at $226,000 after buying an additional 55 shares in the last quarter. Kestra Investment Management LLC increased its holdings in Manhattan Associates by 2.9% in the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock valued at $555,000 after buying an additional 57 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Manhattan Associates by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after buying an additional 58 shares in the last quarter. Finally, McGlone Suttner Wealth Management Inc. increased its holdings in Manhattan Associates by 8.3% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock valued at $220,000 after buying an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. DA Davidson cut their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Piper Sandler dropped their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Citigroup dropped 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. Raymond James dropped 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, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $171.08 on Friday. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 48.74 and a beta of 1.47. The company’s 50-day moving average is $205.73 and its two-hundred 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.

About Manhattan Associates

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.