Korea Investment CORP Sells 607 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Korea Investment CORP decreased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 25,878 shares of the software maker’s stock after selling 607 shares during the quarter. Korea Investment CORP’s holdings in Manhattan Associates were worth $6,993,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Townsquare Capital LLC raised its position in shares of Manhattan Associates by 16.2% during the third quarter. Townsquare Capital LLC now owns 1,901 shares of the software maker’s stock valued at $535,000 after buying an additional 265 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of Manhattan Associates during the 3rd quarter valued at about $990,000. Edgestream Partners L.P. increased its holdings in shares of Manhattan Associates by 41.6% in the third quarter. Edgestream Partners L.P. now owns 13,302 shares of the software maker’s stock worth $3,743,000 after purchasing an additional 3,905 shares during the last quarter. Erste Asset Management GmbH bought a new position in Manhattan Associates during the third quarter valued at approximately $5,796,000. Finally, Kestra Investment Management LLC purchased a new position in Manhattan Associates during the 3rd quarter valued at approximately $562,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. DA Davidson upgraded shares of Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Finally, Loop Capital reduced their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $173.04 on Tuesday. Manhattan Associates, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $312.60. The company has a market cap of $10.58 billion, a price-to-earnings ratio of 49.30 and a beta of 1.47. The business’s 50 day moving average price is $194.16 and its 200-day moving average price is $250.92.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

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.