Los Angeles Capital Management LLC Sells 216 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Los Angeles Capital Management LLC trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 152,114 shares of the software maker’s stock after selling 216 shares during the period. Los Angeles Capital Management LLC owned about 0.25% of Manhattan Associates worth $41,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA bought a new stake in Manhattan Associates in the third quarter worth about $234,249,000. JPMorgan Chase & Co. raised its holdings in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Manhattan Associates by 275.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares during the period. Swedbank AB lifted its stake in Manhattan Associates by 1,840.3% in the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after purchasing an additional 350,000 shares during the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after purchasing an additional 210,929 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the company’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 in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on MANH shares. Truist Financial lowered their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Raymond James cut their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, DA Davidson dropped their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Trading Up 0.6 %

MANH stock opened at $178.08 on Wednesday. The firm has a 50 day moving average of $242.86 and a 200-day moving average of $265.38. The firm has a market capitalization of $10.88 billion, a P/E ratio of 50.74 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $169.94 and a 12 month 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.