Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 78.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 356,208 shares of the software maker’s stock after selling 1,317,568 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Manhattan Associates were worth $61,638,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MANH. BOKF NA lifted its holdings in shares of Manhattan Associates by 0.4% in the fourth quarter. BOKF NA now owns 13,271 shares of the software maker’s stock valued at $3,522,000 after buying an additional 55 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in Manhattan Associates by 2.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock valued at $678,000 after purchasing an additional 63 shares during the period. Linden Thomas Advisory Services LLC lifted its position in shares of Manhattan Associates by 1.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,552 shares of the software maker’s stock worth $1,134,000 after acquiring an additional 73 shares during the period. Seeds Investor LLC lifted its position in shares of Manhattan Associates by 5.0% during the 4th quarter. Seeds Investor LLC now owns 1,556 shares of the software maker’s stock worth $420,000 after buying an additional 74 shares during the period. Finally, Signaturefd LLC raised its position in Manhattan Associates by 6.9% in the 1st quarter. Signaturefd LLC now owns 1,285 shares of the software maker’s stock valued at $222,000 after purchasing an additional 83 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley assumed coverage on Manhattan Associates in a report on Monday. They set an “underweight” rating and a $190.00 target price on the stock. Robert W. Baird upped their target price on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday. DA Davidson increased their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Redburn Atlantic downgraded Manhattan Associates from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Finally, Citigroup reaffirmed a “neutral” rating and issued a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of “Hold” and a consensus target price of $210.56.

Manhattan Associates Stock Up 2.0%

NASDAQ MANH opened at $203.90 on Friday. The company has a 50 day moving average price of $193.22 and a 200 day moving average price of $196.35. The firm has a market cap of $12.38 billion, a PE ratio of 58.26 and a beta of 1.08. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

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.