Manhattan Associates, Inc. (NASDAQ:MANH) Short Interest Up 20.0% in February

Manhattan Associates, Inc. (NASDAQ:MANH) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,380,000 shares, a growth of 20.0% from the February 13th total of 1,150,000 shares. Currently, 2.3% of the shares of the company are sold short. Based on an average daily trading volume, of 727,300 shares, the short-interest ratio is currently 1.9 days.

Manhattan Associates Price Performance

MANH stock traded up $1.71 during trading on Wednesday, hitting $174.49. The stock had a trading volume of 659,907 shares, compared to its average volume of 502,573. Manhattan Associates has a twelve month low of $163.10 and a twelve month high of $312.60. The stock has a market capitalization of $10.67 billion, a P/E ratio of 49.71 and a beta of 1.47. The company’s 50-day moving average price is $209.62 and its two-hundred day moving average price is $255.67.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after buying an additional 50,538 shares during the period. FMR LLC increased its position in shares of Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after acquiring an additional 310,257 shares during the period. State Street Corp grew its stake in shares of Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after purchasing an additional 578,295 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock worth $502,960,000 after purchasing an additional 55,334 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of recent research reports. Piper Sandler reduced their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. DA Davidson cut their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Robert W. Baird cut their price target on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

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.