Trexquant Investment LP Reduces Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Trexquant Investment LP lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 48.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 16,046 shares of the software maker’s stock after selling 15,234 shares during the quarter. Trexquant Investment LP’s holdings in Manhattan Associates were worth $4,336,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MANH. Twin Tree Management LP acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $25,000. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at about $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at about $35,000. Bank of Jackson Hole Trust acquired a new position in Manhattan Associates in the fourth quarter valued at about $72,000. Finally, EverSource Wealth Advisors LLC boosted its stake in Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock worth $83,000 after buying an additional 182 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Piper Sandler decreased their target price 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. Raymond James dropped their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Finally, Robert W. Baird lowered their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Three 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 company. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction on Thursday, March 6th. The stock was 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 of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Down 6.0 %

Shares of NASDAQ:MANH opened at $152.05 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $150.20 and a fifty-two week high of $312.60. The firm’s 50 day moving average price is $184.74 and its 200 day moving average price is $248.19. The stock has a market cap of $9.29 billion, a price-to-earnings ratio of 43.32 and a beta of 1.47.

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.