Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,089 shares of the software maker’s stock after selling 150 shares during the period. State of Alaska Department of Revenue’s holdings in Manhattan Associates were worth $5,698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MANH. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Manhattan Associates during the fourth quarter worth $3,890,000. GDS Wealth Management boosted its position in Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares during the last quarter. Oak Thistle LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at about $1,326,000. GAMMA Investing LLC raised its holdings in Manhattan Associates by 47.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after acquiring an additional 382 shares during the last quarter. Finally, Smith Group Asset Management LLC lifted its stake in Manhattan Associates by 1.8% in 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. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $200.90 on Friday. The company has a market capitalization of $12.27 billion, a price-to-earnings ratio of 57.24 and a beta of 1.50. The company’s 50 day simple moving average is $270.72 and its 200-day simple moving average is $270.42. Manhattan Associates, Inc. has a 1 year low of $196.04 and a 1 year high of $312.60.

Insider Transactions at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MANH. Citigroup cut their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Loop Capital dropped their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, DA Davidson dropped their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

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.