Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Jensen Investment Management Inc.

Jensen Investment Management Inc. reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 17.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,030 shares of the software maker’s stock after selling 3,500 shares during the period. Jensen Investment Management Inc.’s holdings in Manhattan Associates were worth $4,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whipplewood Advisors LLC acquired a new stake in Manhattan Associates during the fourth quarter worth about $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates during the fourth quarter worth about $35,000. Brooklyn Investment Group acquired a new stake in Manhattan Associates during the third quarter worth about $58,000. Bank of Jackson Hole Trust acquired a new stake in Manhattan Associates during the fourth quarter worth about $72,000. Finally, EverSource Wealth Advisors LLC increased its position in Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock worth $83,000 after purchasing an additional 182 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Up 5.5 %

Shares of NASDAQ:MANH opened at $172.50 on Monday. The firm has a 50 day simple moving average of $215.40 and a 200-day simple moving average of $257.50. The company has a market capitalization of $10.54 billion, a PE ratio of 49.15 and a beta of 1.47. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60.

Wall Street Analyst Weigh In

MANH has been the subject of a number of recent analyst reports. Citigroup dropped their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday. Loop Capital dropped their price target 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. Truist Financial dropped their price target 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. 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. Finally, Piper Sandler dropped their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.56.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction 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 SEC, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

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.