Manhattan Associates, Inc. (NASDAQ:MANH - Get Free Report) CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Manhattan Associates Stock Down 3.0 %
MANH opened at $165.64 on Tuesday. The firm has a market cap of $10.12 billion, a P/E ratio of 47.19 and a beta of 1.47. The business has a fifty day simple moving average of $223.64 and a 200-day simple moving average of $260.14. Manhattan Associates, Inc. has a 52 week low of $164.48 and a 52 week high of $312.60.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ascent Group LLC raised its stake in Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker's stock valued at $252,000 after buying an additional 41 shares in the last quarter. Huntington National Bank raised its stake in Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker's stock valued at $247,000 after buying an additional 49 shares in the last quarter. Metis Global Partners LLC raised its stake in 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 buying an additional 55 shares in the last quarter. BOKF NA raised its stake in Manhattan Associates by 0.4% in the fourth quarter. BOKF NA now owns 13,271 shares of the software maker's stock valued at $3,522,000 after buying an additional 55 shares in the last quarter. Finally, Kestra Investment Management LLC raised its stake in Manhattan Associates by 2.9% in the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker's stock valued at $555,000 after buying an additional 57 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have commented on MANH. Citigroup reduced their target price on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating for the company in a report on Monday, January 27th. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Loop Capital cut their price target on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Finally, Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $273.33.
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About Manhattan Associates
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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.
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