OneDigital Investment Advisors LLC Lowers Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

OneDigital Investment Advisors LLC lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 28.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,489 shares of the software maker’s stock after selling 1,778 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Manhattan Associates were worth $1,213,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock worth $1,811,299,000 after acquiring an additional 50,538 shares during the last quarter. FMR LLC lifted its stake in Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after purchasing an additional 310,257 shares during the last quarter. Franklin Resources Inc. lifted its stake in Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Manhattan Associates by 3.1% in the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock worth $502,960,000 after purchasing an additional 55,334 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after purchasing an additional 841,276 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on MANH shares. Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird cut 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. Truist Financial lifted their target price on shares of Manhattan Associates from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, William Blair upgraded 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 seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.38.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the business’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 completion of the sale, the chief financial officer now 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 legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by company insiders.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $174.21 on Friday. The company’s 50-day simple moving average is $169.45 and its 200 day simple moving average is $235.51. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a market capitalization of $10.58 billion, a P/E ratio of 49.63 and a beta of 1.36.

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.