Robeco Institutional Asset Management B.V. Reduces Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Robeco Institutional Asset Management B.V. cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 6.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 150,009 shares of the software maker’s stock after selling 10,731 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Manhattan Associates were worth $40,538,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates during the third quarter valued at approximately $234,249,000. JPMorgan Chase & Co. increased its stake in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares in the last quarter. FMR LLC raised its holdings in Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Manhattan Associates by 118.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after purchasing an additional 94,283 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after purchasing an additional 82,995 shares during the period. 98.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MANH shares. Citigroup lowered their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday. DA Davidson lowered 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. Truist Financial reduced their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday. Loop Capital cut their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Price Performance

NASDAQ MANH opened at $214.14 on Friday. Manhattan Associates, Inc. has a 1-year low of $205.12 and a 1-year high of $312.60. The business has a 50 day simple moving average of $281.04 and a two-hundred day simple moving average of $271.55. The stock has a market capitalization of $13.08 billion, a PE ratio of 60.84 and a beta of 1.52.

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.