Alliancebernstein L.P. Has $948.55 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Alliancebernstein L.P. decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,510,029 shares of the software maker’s stock after selling 115,018 shares during the quarter. Alliancebernstein L.P. owned 5.75% of Manhattan Associates worth $948,550,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in Manhattan Associates in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates in the fourth quarter worth $35,000. Bank of Jackson Hole Trust acquired a new position in Manhattan Associates during the fourth quarter worth $72,000. Finally, EverSource Wealth Advisors LLC grew its position in Manhattan Associates by 144.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock valued at $83,000 after purchasing an additional 182 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Stock Performance

Shares of MANH opened at $173.48 on Monday. The firm has a market cap of $10.60 billion, a P/E ratio of 49.42 and a beta of 1.47. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60. The firm’s 50-day simple moving average is $196.17 and its 200 day simple moving average is $251.56.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MANH shares. Loop Capital cut their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Citigroup lowered their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Truist Financial cut their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, DA Davidson upgraded 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 assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $243.78.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate 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.