Arrowstreet Capital Limited Partnership Has $114.80 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Arrowstreet Capital Limited Partnership lessened its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 424,804 shares of the software maker’s stock after selling 38,149 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.70% of Manhattan Associates worth $114,799,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in MANH. Townsquare Capital LLC lifted its holdings in shares of Manhattan Associates by 16.2% during the third 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 period. Capstone Investment Advisors LLC bought a new position in Manhattan Associates during the 3rd quarter worth $219,000. Verition Fund Management LLC acquired a new position in Manhattan Associates during the 3rd quarter worth about $990,000. Edgestream Partners L.P. grew its position in shares of Manhattan Associates by 41.6% in the 3rd quarter. Edgestream Partners L.P. now owns 13,302 shares of the software maker’s stock valued at $3,743,000 after buying an additional 3,905 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in shares of Manhattan Associates in the third quarter valued at about $5,796,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Shares of 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 50 day simple moving average is $196.17 and its two-hundred day simple moving average is $251.56. The firm has a market cap of $10.60 billion, a P/E ratio of 49.42 and a beta of 1.47.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $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 accessible through this hyperlink. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of recent analyst reports. Robert W. Baird cut their price objective 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. Citigroup reduced their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Loop Capital lowered their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Piper Sandler cut their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Finally, DA Davidson raised Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

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.