Cibc World Markets Corp Trims Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Cibc World Markets Corp reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 22.7% in the 4th quarter, Holdings Channel reports. The firm owned 2,772 shares of the software maker’s stock after selling 816 shares during the period. Cibc World Markets Corp’s holdings in Manhattan Associates were worth $749,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp lifted its holdings in shares of Manhattan Associates by 0.6% in the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC increased its position in Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after acquiring an additional 130,817 shares during the period. Geode Capital Management LLC increased its position in Manhattan Associates by 5.8% in 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 acquiring an additional 82,995 shares during the period. JPMorgan Chase & Co. increased its position in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new position in Manhattan Associates in the 3rd quarter valued at about $234,249,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

MANH opened at $171.08 on Friday. The stock has a market cap of $10.46 billion, a P/E ratio of 48.74 and a beta of 1.47. The stock’s 50 day simple moving average is $205.73 and its 200 day simple moving average is $254.43. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MANH shares. Loop Capital dropped their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler dropped their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Robert W. Baird dropped their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, Citigroup dropped their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates 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.