Manhattan Associates, Inc. (NASDAQ:MANH) Short Interest Up 20.0% in February

Manhattan Associates, Inc. (NASDAQ:MANH) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,380,000 shares, a growth of 20.0% from the February 13th total of 1,150,000 shares. Based on an average daily trading volume, of 727,300 shares, the short-interest ratio is presently 1.9 days. Approximately 2.3% of the shares of the company are short sold.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MANH shares. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Citigroup reduced their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Raymond James reduced their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Stock Down 1.6 %

Shares of MANH traded down $2.87 on Tuesday, hitting $172.78. The company’s stock had a trading volume of 628,467 shares, compared to its average volume of 501,669. The firm’s fifty day moving average price is $211.58 and its 200-day moving average price is $256.24. Manhattan Associates has a fifty-two week low of $163.10 and a fifty-two week high of $312.60. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of 49.23 and a beta of 1.47.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On Manhattan Associates

Institutional investors and hedge funds have recently modified their holdings of the business. Twin Tree Management LP acquired a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new position in Manhattan Associates during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the 4th quarter worth approximately $35,000. Park Square Financial Group LLC acquired a new position in Manhattan Associates during the 4th quarter worth approximately $38,000. Finally, Transce3nd LLC acquired a new position in Manhattan Associates during the 4th quarter worth approximately $41,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

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.