Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.1% during the fourth quarter, HoldingsChannel reports. The fund owned 3,390 shares of the software maker’s stock after selling 109 shares during the period. Maryland State Retirement & Pension System’s holdings in Manhattan Associates were worth $916,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ascent Group LLC increased its holdings in shares of Manhattan Associates by 4.8% in the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after purchasing an additional 41 shares in the last quarter. Metis Global Partners LLC grew its position in Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after buying an additional 55 shares during the period. Kestra Investment Management LLC increased its holdings in Manhattan Associates by 2.9% in the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock valued at $555,000 after buying an additional 57 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its position in shares of Manhattan Associates by 8.3% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock valued at $220,000 after acquiring an additional 62 shares during the period. Finally, Freedom Investment Management Inc. boosted its stake in shares of Manhattan Associates by 3.2% during the 3rd quarter. Freedom Investment Management Inc. now owns 2,203 shares of the software maker’s stock worth $620,000 after acquiring an additional 68 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MANH. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Raymond James cut their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird decreased their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. 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 report on Wednesday, January 29th. Finally, DA Davidson reduced their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $171.08 on Monday. The firm has a market cap of $10.46 billion, a PE ratio of 48.74 and a beta of 1.47. The firm has a 50 day simple moving average of $205.73 and a 200-day simple moving average of $254.41. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60.

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.