New York State Teachers Retirement System reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 6.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 69,001 shares of the software maker’s stock after selling 4,752 shares during the period. New York State Teachers Retirement System owned 0.11% of Manhattan Associates worth $18,647,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of MANH. Capital Performance Advisors LLP bought a new stake in Manhattan Associates in the third quarter worth $34,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates in the fourth quarter worth $35,000. Ashton Thomas Securities LLC bought a new stake in Manhattan Associates in the third quarter worth $42,000. Carolina Wealth Advisors LLC bought a new stake in Manhattan Associates in the third quarter worth $50,000. Finally, Brooklyn Investment Group bought a new stake in Manhattan Associates in the third quarter worth $58,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated Friday, November 29th. The stock was 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 directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.
Manhattan Associates Stock Performance
Analysts Set New Price Targets
A number of brokerages recently issued reports on MANH. Robert W. Baird upped their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James cut their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Finally, Loop Capital cut their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $273.33.
Get Our Latest Analysis on MANH
Manhattan Associates 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.
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