Gotham Asset Management LLC Decreases Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Gotham Asset Management LLC trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,586 shares of the software maker’s stock after selling 155 shares during the period. Gotham Asset Management LLC’s holdings in Manhattan Associates were worth $4,212,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MANH. JPMorgan Chase & Co. grew its position in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Accurate Wealth Management LLC increased its position in Manhattan Associates by 35.7% during the fourth quarter. Accurate Wealth Management LLC now owns 3,873 shares of the software maker’s stock worth $1,028,000 after buying an additional 1,019 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Manhattan Associates in the fourth quarter worth $1,326,000. Kathmere Capital Management LLC lifted its position in shares of Manhattan Associates by 7.8% in the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker’s stock valued at $254,000 after acquiring an additional 68 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of Manhattan Associates by 21.5% during the fourth quarter. Park Avenue Securities LLC now owns 3,825 shares of the software maker’s stock valued at $1,034,000 after acquiring an additional 676 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s 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 in the company, valued at $17,298,758.29. This represents a 2.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.88% of the stock is owned by company insiders.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $194.20 on Thursday. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The firm has a 50 day moving average price of $171.28 and a 200 day moving average price of $225.03. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 55.33 and a beta of 1.13.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MANH. DA Davidson boosted their target price on shares of Manhattan Associates from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Truist Financial boosted their price objective on shares of Manhattan Associates from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Piper Sandler decreased their target price 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. Robert W. Baird lowered their target price 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. Finally, Raymond James reduced their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $205.57.

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.