Manhattan Associates, Inc. (NASDAQ:MANH) Short Interest Up 20.0% in February

Manhattan Associates, Inc. (NASDAQ:MANH) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,380,000 shares, an increase of 20.0% from the February 13th total of 1,150,000 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 727,300 shares, the days-to-cover ratio is presently 1.9 days.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by insiders.

Institutional Trading of Manhattan Associates

Several large investors have recently made changes to their positions in MANH. Massachusetts Financial Services Co. MA boosted its position in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after acquiring an additional 841,276 shares in the last quarter. Norges Bank acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $201,377,000. JPMorgan Chase & Co. boosted its position in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares in the last quarter. Franklin Resources Inc. lifted its stake in Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock valued at $107,842,000 after purchasing an additional 380,722 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Trading Down 1.6 %

Shares of NASDAQ:MANH traded down $2.87 on Tuesday, reaching $172.78. 628,467 shares of the company’s stock were exchanged, compared to its average volume of 501,669. The company has a fifty day moving average of $211.58 and a 200-day moving average of $256.24. Manhattan Associates has a twelve month low of $163.10 and a twelve month high of $312.60. The company has a market capitalization of $10.56 billion, a price-to-earnings ratio of 49.23 and a beta of 1.47.

Analysts Set New Price Targets

MANH has been the topic of a number of research analyst reports. Truist Financial dropped their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Robert W. Baird lowered their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday. Piper Sandler lowered their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Raymond James lowered their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

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.