Manhattan Associates, Inc. (NASDAQ:MANH) Stake Reduced by AGF Management Ltd.

AGF Management Ltd. cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 6.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,572 shares of the software maker’s stock after selling 105 shares during the quarter. AGF Management Ltd.’s holdings in Manhattan Associates were worth $425,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Ascent Group LLC raised its position in Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after acquiring an additional 41 shares in the last quarter. Huntington National Bank raised its holdings in Manhattan Associates by 5.9% during the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after buying an additional 49 shares during the period. Metis Global Partners LLC raised its holdings in Manhattan Associates by 7.0% during the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after buying an additional 55 shares during the period. Kestra Investment Management LLC raised its holdings in Manhattan Associates by 2.9% during the 4th 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 during the period. Finally, CIBC Asset Management Inc raised its holdings in Manhattan Associates by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock worth $506,000 after buying an additional 58 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Truist Financial cut their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Raymond James cut their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Loop Capital dropped their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $252.56.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $172.50 on Friday. The stock has a market cap of $10.54 billion, a price-to-earnings ratio of 49.15 and a beta of 1.47. The business has a 50 day simple moving average of $215.40 and a 200 day simple moving average of $257.51. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60.

Insider Activity at Manhattan Associates

In related 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 value of $476,274.04. Following the completion of the sale, the chief financial officer now 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 filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

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.