Bank of New York Mellon Corp Sells 10,815 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Bank of New York Mellon Corp cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 537,521 shares of the software maker’s stock after selling 10,815 shares during the quarter. Bank of New York Mellon Corp owned 0.88% of Manhattan Associates worth $145,260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MANH. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates in the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates in the fourth quarter worth $35,000. Ashton Thomas Securities LLC purchased a new position in shares of Manhattan Associates in the third quarter worth $42,000. Brooklyn Investment Group purchased a new position in shares of Manhattan Associates in the third quarter worth $58,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates in the fourth quarter worth $72,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Raymond James decreased their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler reissued an “overweight” rating and set a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Finally, Loop Capital reduced their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $176.88 on Friday. The stock has a market cap of $10.81 billion, a price-to-earnings ratio of 50.39 and a beta of 1.50. The firm’s 50-day moving average is $236.56 and its 200 day moving average is $263.66. Manhattan Associates, Inc. has a 1 year low of $169.94 and a 1 year high of $312.60.

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.