OMERS ADMINISTRATION Corp Sells 2,963 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

OMERS ADMINISTRATION Corp lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,472 shares of the software maker’s stock after selling 2,963 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Manhattan Associates were worth $2,019,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MANH. Twin Tree Management LP bought a new stake in Manhattan Associates in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates during the fourth quarter worth about $34,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates during the fourth quarter worth about $35,000. Transce3nd LLC bought a new stake in Manhattan Associates during the fourth quarter worth about $41,000. Finally, Bank of Jackson Hole Trust bought a new stake in Manhattan Associates during the fourth quarter worth about $72,000. Institutional investors own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MANH shares. 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 note on Thursday, April 10th. Truist Financial upped their price objective on shares of Manhattan Associates from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Piper Sandler decreased their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Citigroup decreased their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, Robert W. Baird decreased 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. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $205.57.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $193.10 on Friday. The company’s 50 day simple moving average is $171.82 and its 200 day simple moving average is $224.46. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The firm has a market capitalization of $11.72 billion, a P/E ratio of 55.01 and a beta of 1.13.

About Manhattan Associates

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.