Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 6.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 456,116 shares of the software maker’s stock after selling 32,105 shares during the quarter. Royal Bank of Canada’s holdings in Manhattan Associates were worth $123,261,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Manhattan Associates during the 4th quarter worth approximately $3,890,000. GDS Wealth Management raised its stake in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock valued at $1,715,000 after acquiring an additional 4,683 shares in the last quarter. AustralianSuper Pty Ltd boosted its holdings in Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after purchasing an additional 210,929 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Manhattan Associates in the fourth quarter valued at $1,200,000. Finally, Smith Group Asset Management LLC grew its stake in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock worth $25,195,000 after purchasing an additional 1,641 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MANH. Raymond James decreased their price objective 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 decreased their price target 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. Citigroup lowered their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Piper Sandler reduced their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Finally, Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $205.57.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. The trade was a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.88% of the company’s stock.

Manhattan Associates Stock Up 0.7%

Shares of Manhattan Associates stock opened at $194.49 on Monday. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The firm’s 50 day moving average is $172.36 and its two-hundred day moving average is $223.32. The firm has a market capitalization of $11.81 billion, a P/E ratio of 55.41 and a beta of 1.13.

Manhattan Associates 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.