Inspire Advisors LLC Has $668,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Inspire Advisors LLC reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 75.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,472 shares of the software maker’s stock after selling 7,744 shares during the period. Inspire Advisors LLC’s holdings in Manhattan Associates were worth $668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Ascent Group LLC lifted its holdings in Manhattan Associates by 4.8% during the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after purchasing an additional 41 shares during the last quarter. Huntington National Bank lifted 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 purchasing an additional 49 shares during the last quarter. Metis Global Partners LLC increased its stake 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 acquiring an additional 55 shares during the period. Kestra Investment Management LLC increased its stake 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 acquiring an additional 57 shares during the period. Finally, CIBC Asset Management Inc increased its stake 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 acquiring an additional 58 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Shares of MANH opened at $167.52 on Wednesday. Manhattan Associates, Inc. has a 52-week low of $164.48 and a 52-week high of $312.60. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 47.73 and a beta of 1.47. The business’s fifty day moving average is $221.59 and its 200-day moving average is $259.47.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on MANH. Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Loop Capital lowered their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates 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. Finally, Citigroup lowered their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

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.