New York State Common Retirement Fund Trims Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

New York State Common Retirement Fund lessened its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 252,291 shares of the software maker’s stock after selling 9,001 shares during the period. New York State Common Retirement Fund’s holdings in Manhattan Associates were worth $68,179,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MANH. Creative Planning lifted its holdings in shares of Manhattan Associates by 10.4% in the third quarter. Creative Planning now owns 8,035 shares of the software maker’s stock valued at $2,261,000 after purchasing an additional 756 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Manhattan Associates by 153.7% in the third quarter. Blue Trust Inc. now owns 1,408 shares of the software maker’s stock valued at $396,000 after purchasing an additional 853 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after purchasing an additional 94,283 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Manhattan Associates in the third quarter valued at about $63,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Manhattan Associates by 78.9% in the third quarter. Raleigh Capital Management Inc. now owns 442 shares of the software maker’s stock valued at $124,000 after purchasing an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % 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.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $183.21 on Thursday. Manhattan Associates, Inc. has a one year low of $169.94 and a one year high of $312.60. The company has a 50 day moving average price of $252.47 and a 200 day moving average price of $266.96. The firm has a market capitalization of $11.20 billion, a price-to-earnings ratio of 52.20 and a beta of 1.50.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler reissued an “overweight” rating and issued a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. DA Davidson cut their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Citigroup cut their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Loop Capital cut their price objective 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.33.

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.