JPMorgan Chase & Co. Sells 298,136 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

JPMorgan Chase & Co. trimmed its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 29.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 711,777 shares of the software maker’s stock after selling 298,136 shares during the quarter. JPMorgan Chase & Co.’s holdings in Manhattan Associates were worth $192,351,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MANH. Ascent Group LLC raised its stake in shares of 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 during the last quarter. Metis Global Partners LLC increased its holdings in shares of Manhattan Associates by 7.0% in the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock valued at $226,000 after purchasing an additional 55 shares in the last quarter. Kestra Investment Management LLC raised its position in Manhattan Associates by 2.9% in the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after purchasing an additional 57 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in Manhattan Associates by 8.3% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after buying an additional 62 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in Manhattan Associates by 2.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock valued at $678,000 after buying an additional 63 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Down 0.3 %

Shares of MANH stock opened at $173.04 on Tuesday. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60. The firm has a fifty day moving average of $194.16 and a 200-day moving average of $250.92. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 49.30 and a beta of 1.47.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Citigroup cut their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Piper Sandler cut their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Raymond James lowered their price target 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. Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a report on Monday, March 24th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $243.78.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

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.