Hsbc Holdings PLC reduced its holdings in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 55.3% during the first quarter, Holdings Channel reports. The firm owned 35,592 shares of the software maker’s stock after selling 44,087 shares during the period. Hsbc Holdings PLC’s holdings in Manhattan Associates were worth $4,742,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Manhattan Associates by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 6,957,028 shares of the software maker’s stock worth $1,205,723,000 after acquiring an additional 136,708 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Manhattan Associates by 35.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after purchasing an additional 671,589 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Manhattan Associates by 6.9% during the fourth quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker’s stock valued at $384,668,000 after purchasing an additional 142,407 shares during the last quarter. Morgan Stanley lifted its holdings in shares of Manhattan Associates by 2.5% during the fourth quarter. Morgan Stanley now owns 2,178,422 shares of the software maker’s stock valued at $377,543,000 after purchasing an additional 53,037 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Manhattan Associates by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after purchasing an additional 88,005 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.
Manhattan Associates Stock Up 2.9%
Shares of Manhattan Associates stock opened at $151.67 on Friday. The stock has a market capitalization of $8.97 billion, a P/E ratio of 42.48 and a beta of 0.97. The stock has a 50 day moving average price of $145.84 and a two-hundred day moving average price of $145.09. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $229.57.
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. DA Davidson reaffirmed a “buy” rating and set a $200.00 price objective on shares of Manhattan Associates in a research note on Wednesday, May 20th. Rothschild & Co Redburn set a $145.00 target price on shares of Manhattan Associates in a research report on Thursday, April 16th. Barclays cut their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Robert W. Baird upped their price target on shares of Manhattan Associates from $183.00 to $186.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Citigroup raised their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $201.00.
View Our Latest Analysis on Manhattan Associates
Insider Activity at Manhattan Associates
In related news, CEO Eric Andrew Clark sold 1,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total value of $146,770.00. Following the completion of the transaction, the chief executive officer directly owned 92,638 shares of the company’s stock, valued at $13,596,479.26. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.84% of the company’s stock.
Manhattan Associates Company Profile
Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.
Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.
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