Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,390 shares of the software maker’s stock after selling 109 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Manhattan Associates were worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Xponance Inc. increased its stake in shares of Manhattan Associates by 4.0% during the fourth quarter. Xponance Inc. now owns 17,095 shares of the software maker’s stock worth $4,620,000 after buying an additional 657 shares during the period. Generali Asset Management SPA SGR acquired a new position in shares of Manhattan Associates during the fourth quarter worth $2,782,000. William Blair Investment Management LLC raised its stake in Manhattan Associates by 9.2% in the fourth quarter. William Blair Investment Management LLC now owns 682,013 shares of the software maker’s stock valued at $184,307,000 after buying an additional 57,586 shares in the last quarter. Twin Tree Management LP purchased a new stake in Manhattan Associates during the 4th quarter worth about $25,000. Finally, First National Advisers LLC boosted its position in shares of Manhattan Associates by 8.8% during the 4th quarter. First National Advisers LLC now owns 11,595 shares of the software maker’s stock worth $3,133,000 after acquiring an additional 936 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Robert W. Baird dropped their target price 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, March 18th. DA Davidson reduced their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial reduced their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Piper Sandler dropped their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Stock Down 0.8 %

MANH opened at $171.08 on Monday. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60. The business has a 50 day moving average price of $205.73 and a two-hundred day moving average price of $254.41. The company has a market cap of $10.46 billion, a PE ratio of 48.74 and a beta of 1.47.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction on 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 in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.72% of the company’s stock.

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.