Manhattan Associates, Inc. (NASDAQ:MANH) Short Interest Down 35.3% in January

Manhattan Associates, Inc. (NASDAQ:MANH) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 1,120,000 shares, a drop of 35.3% from the January 15th total of 1,730,000 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily volume of 574,300 shares, the days-to-cover ratio is presently 2.0 days.

Insider Transactions at Manhattan Associates

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

Institutional Investors Weigh In On Manhattan Associates

A number of institutional investors and hedge funds have recently made changes to their positions in MANH. Massachusetts Financial Services Co. MA boosted its holdings in Manhattan Associates by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after acquiring an additional 841,276 shares during the last quarter. Norges Bank acquired a new position in Manhattan Associates during the 4th quarter valued at about $201,377,000. JPMorgan Chase & Co. lifted its position in Manhattan Associates by 213.7% during 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 during the period. Franklin Resources Inc. lifted its holdings in Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after buying an additional 578,295 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake 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 valued at $131,539,000 after purchasing an additional 357,172 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

MANH stock opened at $187.58 on Friday. The company has a 50 day moving average price of $261.45 and a 200 day moving average price of $268.65. Manhattan Associates has a fifty-two week low of $169.94 and a fifty-two week high of $312.60. The stock has a market capitalization of $11.46 billion, a PE ratio of 53.44 and a beta of 1.50.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MANH. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Loop Capital lowered their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Raymond James dropped their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Finally, William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

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.