Allianz Asset Management GmbH Has $32.66 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Allianz Asset Management GmbH decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 35.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 120,842 shares of the software maker’s stock after selling 67,404 shares during the quarter. Allianz Asset Management GmbH’s holdings in Manhattan Associates were worth $32,656,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Manhattan Associates during the third quarter worth $34,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $42,000. Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $58,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $72,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $182.51 on Monday. Manhattan Associates, Inc. has a fifty-two week low of $169.94 and a fifty-two week high of $312.60. The firm has a fifty day moving average price of $247.68 and a two-hundred day moving average price of $266.37. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 52.00 and a beta of 1.50.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, 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 sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Raymond James cut their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Citigroup decreased their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Piper Sandler restated an “overweight” rating and set a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $273.33.

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.