Tredje AP fonden Cuts Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Tredje AP fonden lessened its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 50.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,106 shares of the software maker’s stock after selling 5,106 shares during the quarter. Tredje AP fonden’s holdings in Manhattan Associates were worth $1,380,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA purchased a new position in Manhattan Associates during the 3rd quarter valued at approximately $234,249,000. JPMorgan Chase & Co. grew its holdings in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Manhattan Associates by 275.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after buying an additional 357,172 shares in the last quarter. Swedbank AB grew its holdings in Manhattan Associates by 1,840.3% during the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after buying an additional 350,000 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after buying an additional 210,929 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $172.50 on Friday. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60. The firm has a market capitalization of $10.54 billion, a P/E ratio of 49.15 and a beta of 1.47. The stock has a 50 day moving average price of $217.41 and a 200 day moving average price of $258.16.

Analyst Ratings Changes

A number of brokerages have recently commented on MANH. Piper Sandler dropped their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday. 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 report on Wednesday, January 29th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Truist Financial dropped 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, DA Davidson dropped their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.56.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction 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 $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by corporate insiders.

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.