Mercer Global Advisors Inc. ADV Sells 1,815 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Mercer Global Advisors Inc. ADV reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 36.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 3,131 shares of the software maker’s stock after selling 1,815 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Manhattan Associates were worth $846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Metis Global Partners LLC boosted its position in Manhattan Associates by 7.0% during the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after buying an additional 55 shares during the period. Kestra Investment Management LLC lifted its holdings in shares of Manhattan Associates by 2.9% during the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after purchasing an additional 57 shares during the period. McGlone Suttner Wealth Management Inc. grew its stake in shares of Manhattan Associates by 8.3% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after purchasing an additional 62 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Manhattan Associates by 2.6% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock valued at $678,000 after purchasing an additional 63 shares during the period. Finally, Kathmere Capital Management LLC raised its position in Manhattan Associates by 7.8% during the 4th quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker’s stock worth $254,000 after purchasing an additional 68 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Trading Down 1.2 %

NASDAQ:MANH opened at $184.67 on Friday. The firm has a fifty day simple moving average of $169.82 and a two-hundred day simple moving average of $226.33. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The stock has a market capitalization of $11.21 billion, a price-to-earnings ratio of 52.61 and a beta of 1.13.

Insider Activity

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Loop Capital reissued a “hold” rating and set a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Robert W. Baird reduced their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. DA Davidson lifted their target price on shares of Manhattan Associates from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $212.38.

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.