Arrowstreet Capital Limited Partnership Cuts Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Arrowstreet Capital Limited Partnership reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 424,804 shares of the software maker’s stock after selling 38,149 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Manhattan Associates were worth $114,799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MANH. Twin Tree Management LP bought a new position in shares of Manhattan Associates during the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates during the fourth quarter worth $34,000. Synergy Asset Management LLC purchased a new position in Manhattan Associates in the fourth quarter worth $35,000. Bank of Jackson Hole Trust bought a new position in Manhattan Associates in the 4th quarter valued at $72,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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 during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. DA Davidson upgraded shares of Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Citigroup reduced their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Loop Capital lowered their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Piper Sandler reduced their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Finally, Robert W. Baird lowered their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $243.78.

Insider Transactions at Manhattan Associates

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 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 is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $173.48 on Monday. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60. The business’s fifty day moving average is $196.17 and its 200 day moving average is $251.56. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 49.42 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.