Osterweis Capital Management Inc. Has $8.61 Million Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Osterweis Capital Management Inc. cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,859 shares of the software maker’s stock after selling 1,322 shares during the period. Osterweis Capital Management Inc. owned 0.05% of Manhattan Associates worth $8,610,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MANH. Twin Tree Management LP acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $25,000. Synergy Asset Management LLC bought a new position in Manhattan Associates during the 4th quarter worth $35,000. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates during the fourth quarter worth $34,000. Bank of Jackson Hole Trust bought a new stake in shares of Manhattan Associates in the fourth quarter valued at about $72,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Manhattan Associates by 144.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock valued at $83,000 after acquiring an additional 182 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on MANH shares. Robert W. Baird dropped their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James reduced their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Truist Financial decreased their target price on Manhattan Associates from $285.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday. Finally, DA Davidson dropped their target price on shares of Manhattan Associates from $270.00 to $195.00 and set a “buy” rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average target price of $212.67.

Manhattan Associates Stock Performance

MANH stock opened at $161.09 on Thursday. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The company has a market capitalization of $9.78 billion, a P/E ratio of 45.89 and a beta of 1.36. The company has a fifty day moving average price of $171.66 and a 200-day moving average price of $240.18.

Insider Buying and Selling

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s 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 directly owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

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.