Asset Management One Co. Ltd. Reduces Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Asset Management One Co. Ltd. reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,660 shares of the software maker’s stock after selling 4,482 shares during the quarter. Asset Management One Co. Ltd. owned approximately 0.16% of Manhattan Associates worth $27,091,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates in the 3rd quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at $35,000. Ashton Thomas Securities LLC purchased a new stake in Manhattan Associates in the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC purchased a new stake in Manhattan Associates in the 3rd quarter valued at $50,000. Finally, Brooklyn Investment Group purchased a new stake in Manhattan Associates in the 3rd quarter valued at $58,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on MANH. Raymond James dropped their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Citigroup decreased their price target 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. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Stock Performance

MANH opened at $190.41 on Friday. Manhattan Associates, Inc. has a one year low of $169.94 and a one year high of $312.60. The company has a market cap of $11.63 billion, a P/E ratio of 54.25 and a beta of 1.50. The business’s 50-day simple moving average is $259.20 and its 200-day simple moving average is $268.19.

Insider Activity

In related news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Company 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.