Manhattan Associates, Inc. (NASDAQ:MANH) Short Interest Up 20.0% in February

Manhattan Associates, Inc. (NASDAQ:MANH) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,380,000 shares, a growth of 20.0% from the February 13th total of 1,150,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average daily volume of 727,300 shares, the short-interest ratio is currently 1.9 days.

Manhattan Associates Price Performance

MANH stock traded down $1.20 during mid-day trading on Thursday, reaching $173.29. The company had a trading volume of 214,706 shares, compared to its average volume of 501,444. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 49.47 and a beta of 1.47. Manhattan Associates has a 52 week low of $163.10 and a 52 week high of $312.60. The stock has a 50 day simple moving average of $209.62 and a two-hundred day simple moving average of $255.67.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Institutional Trading of Manhattan Associates

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Metis Global Partners LLC acquired a new position in shares of Manhattan Associates during the 3rd quarter worth about $220,000. OneDigital Investment Advisors LLC increased its position in Manhattan Associates by 3.8% during the third quarter. OneDigital Investment Advisors LLC now owns 6,267 shares of the software maker’s stock worth $1,763,000 after buying an additional 228 shares during the last quarter. CIBC Asset Management Inc raised its stake in Manhattan Associates by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after buying an additional 58 shares during the period. Swiss National Bank lifted its position in shares of Manhattan Associates by 0.3% in the third quarter. Swiss National Bank now owns 182,820 shares of the software maker’s stock valued at $51,442,000 after buying an additional 600 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Manhattan Associates by 74,900.0% during the 3rd quarter. Quest Partners LLC now owns 750 shares of the software maker’s stock worth $211,000 after acquiring an additional 749 shares during the period. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on MANH shares. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. DA Davidson lowered their price objective 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. Robert W. Baird reduced their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday. Loop Capital lowered 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, William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $243.78.

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.