Shelton Capital Management Trims Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Shelton Capital Management trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 5.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,311 shares of the software maker’s stock after selling 126 shares during the quarter. Shelton Capital Management’s holdings in Manhattan Associates were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Metis Global Partners LLC grew its position in Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after buying an additional 55 shares in the last quarter. Kestra Investment Management LLC grew its position in Manhattan Associates by 2.9% during the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after buying an additional 57 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its position in Manhattan Associates by 8.3% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after buying an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Manhattan Associates by 2.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock worth $678,000 after purchasing an additional 63 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its stake in Manhattan Associates by 7.8% during the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker’s stock worth $254,000 after purchasing an additional 68 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’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 transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Price Performance

MANH opened at $166.26 on Thursday. The business has a 50 day simple moving average of $175.50 and a two-hundred day simple moving average of $244.14. The firm has a market capitalization of $10.16 billion, a price-to-earnings ratio of 47.37 and a beta of 1.36. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a research note on Monday, March 24th. Raymond James dropped their price target 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. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Citigroup dropped their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Truist Financial lowered their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, 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.