National Pension Service Reduces Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

National Pension Service lowered its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 104,542 shares of the software maker’s stock after selling 14,600 shares during the period. National Pension Service’s holdings in Manhattan Associates were worth $28,251,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its position in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after buying an additional 12,787 shares during the period. FMR LLC boosted its position in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after buying an additional 130,817 shares during the period. Geode Capital Management LLC boosted its position in Manhattan Associates by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after buying an additional 82,995 shares during the period. JPMorgan Chase & Co. boosted its position in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates during the 3rd quarter valued at $234,249,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $176.88 on Friday. The company has a 50-day moving average of $236.56 and a 200 day moving average of $263.75. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 50.39 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $169.94 and a 1 year high of $312.60.

Analysts Set New Price Targets

Several brokerages have weighed in on MANH. Raymond James dropped 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 dropped their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Citigroup dropped their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Truist Financial dropped their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, DA Davidson dropped their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Company Profile

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.