Stephens Investment Management Group LLC Sells 44,149 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Stephens Investment Management Group LLC lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 493,887 shares of the software maker’s stock after selling 44,149 shares during the period. Manhattan Associates comprises approximately 1.8% of Stephens Investment Management Group LLC’s investment portfolio, making the stock its 2nd biggest position. Stephens Investment Management Group LLC owned approximately 0.81% of Manhattan Associates worth $133,468,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. State Street Corp increased its stake in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after buying an additional 12,787 shares in the last quarter. FMR LLC increased its position in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares in the last quarter. Geode Capital Management LLC raised its stake in Manhattan Associates by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after purchasing an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Manhattan Associates during the 3rd quarter worth $234,249,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Citigroup dropped their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Finally, Truist Financial lowered their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $273.33.

Insider Activity at Manhattan Associates

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

Manhattan Associates Stock Up 1.4 %

MANH opened at $200.90 on Friday. Manhattan Associates, Inc. has a 52 week low of $196.04 and a 52 week high of $312.60. The business has a fifty day simple moving average of $270.72 and a 200-day simple moving average of $270.73. The firm has a market cap of $12.27 billion, a P/E ratio of 57.24 and a beta of 1.50.

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.