Korea Investment CORP Sells 607 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Korea Investment CORP lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,878 shares of the software maker’s stock after selling 607 shares during the period. Korea Investment CORP’s holdings in Manhattan Associates were worth $6,993,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Townsquare Capital LLC raised its position in shares of Manhattan Associates by 16.2% in the 3rd quarter. Townsquare Capital LLC now owns 1,901 shares of the software maker’s stock worth $535,000 after purchasing an additional 265 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Manhattan Associates during the third quarter valued at approximately $990,000. Edgestream Partners L.P. increased its position in shares of Manhattan Associates by 41.6% during the third quarter. Edgestream Partners L.P. now owns 13,302 shares of the software maker’s stock valued at $3,743,000 after acquiring an additional 3,905 shares in the last quarter. Erste Asset Management GmbH purchased a new position in Manhattan Associates in the 3rd quarter worth approximately $5,796,000. Finally, Kestra Investment Management LLC bought a new position in Manhattan Associates in the 3rd quarter valued at approximately $562,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MANH. Loop Capital decreased their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Citigroup dropped their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Finally, Truist Financial dropped their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong 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.

Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $173.04 on Tuesday. Manhattan Associates, Inc. has a one year low of $163.10 and a one year high of $312.60. The business has a fifty day moving average price of $194.16 and a 200-day moving average price of $250.92. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 49.30 and a beta of 1.47.

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.