FMR LLC reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 41.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 640,385 shares of the software maker’s stock after selling 457,865 shares during the period. FMR LLC owned 0.91% of Manhattan Associates worth $33,959,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. American Capital Management Inc. purchased a new stake in shares of Manhattan Associates during the third quarter worth about $76,342,000. Douglas Lane & Associates LLC raised its stake in shares of Manhattan Associates by 17.6% in the third quarter. Douglas Lane & Associates LLC now owns 451,680 shares of the software maker’s stock worth $26,026,000 after buying an additional 67,738 shares during the period. Decatur Capital Management Inc. purchased a new stake in shares of Manhattan Associates during the third quarter worth about $1,946,000. JPMorgan Chase & Co. raised its stake in shares of Manhattan Associates by 71.9% in the third quarter. JPMorgan Chase & Co. now owns 219,444 shares of the software maker’s stock worth $12,644,000 after buying an additional 91,801 shares during the period. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Manhattan Associates by 2.3% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 2,560,172 shares of the software maker’s stock worth $147,517,000 after buying an additional 58,325 shares during the period. Institutional investors own 99.68% of the company’s stock.
Shares of Manhattan Associates, Inc. (NASDAQ:MANH) traded down 9.53% on Friday, reaching $45.76. 3,435,822 shares of the company’s stock traded hands. Manhattan Associates, Inc. has a 12-month low of $45.47 and a 12-month high of $68.53. The stock has a 50-day moving average price of $49.84 and a 200-day moving average price of $51.60. The company has a market cap of $3.22 billion, a PE ratio of 26.60 and a beta of 1.13.
A number of equities research analysts have issued reports on MANH shares. Zacks Investment Research lowered shares of Manhattan Associates from a “hold” rating to a “sell” rating in a report on Thursday, January 12th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Manhattan Associates in a research note on Monday, January 9th. Finally, Benchmark Co. dropped their price objective on shares of Manhattan Associates from $71.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, February 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.50.
About Manhattan Associates
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
