Inspire Advisors LLC Has $668,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Inspire Advisors LLC cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 75.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,472 shares of the software maker’s stock after selling 7,744 shares during the quarter. Inspire Advisors LLC’s holdings in Manhattan Associates were worth $668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Capital Performance Advisors LLP acquired a new position in Manhattan Associates during the 3rd quarter worth about $34,000. Assetmark Inc. lifted its holdings in Manhattan Associates by 16.3% during the 3rd quarter. Assetmark Inc. now owns 9,449 shares of the software maker’s stock worth $2,659,000 after buying an additional 1,323 shares during the period. Atria Investments Inc lifted its stake in shares of Manhattan Associates by 19.0% in the 3rd quarter. Atria Investments Inc now owns 7,551 shares of the software maker’s stock valued at $2,125,000 after purchasing an additional 1,203 shares during the period. Crossmark Global Holdings Inc. lifted its stake in shares of Manhattan Associates by 13.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,941 shares of the software maker’s stock valued at $1,391,000 after purchasing an additional 598 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in shares of Manhattan Associates by 1.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 21,456 shares of the software maker’s stock valued at $6,037,000 after purchasing an additional 206 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Raymond James dropped 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. Loop Capital dropped their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler reissued 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. DA Davidson dropped their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Truist Financial dropped their price objective 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Performance

Shares of MANH opened at $167.52 on Wednesday. The stock has a 50 day moving average price of $221.59 and a two-hundred day moving average price of $259.47. The firm has a market capitalization of $10.24 billion, a P/E ratio of 47.73 and a beta of 1.47. Manhattan Associates, Inc. has a 52 week low of $164.48 and a 52 week high of $312.60.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Company 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.