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

Tredje AP fonden cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,106 shares of the software maker’s stock after selling 5,106 shares during the period. 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 also recently modified their holdings of MANH. Whipplewood Advisors LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in shares of Manhattan Associates during the third quarter valued at $58,000. Bank of Jackson Hole Trust purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at $72,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Manhattan Associates by 144.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock valued at $83,000 after acquiring an additional 182 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on MANH shares. Raymond James lowered their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. DA Davidson lowered their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Truist Financial lowered their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.56.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred 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 sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Stock Up 5.5 %

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

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.