Los Angeles Capital Management LLC Lowers Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Los Angeles Capital Management LLC reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 152,114 shares of the software maker’s stock after selling 216 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Manhattan Associates were worth $41,107,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of MANH. Capital Performance Advisors LLP bought a new stake in Manhattan Associates in the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates during the fourth quarter worth approximately $35,000. Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates in the 3rd quarter worth approximately $42,000. Brooklyn Investment Group purchased a new stake in shares of Manhattan Associates in the 3rd quarter valued at $58,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates during the 4th quarter valued at $72,000. 98.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler reissued an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Truist Financial reduced their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Finally, William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Stock Performance

MANH opened at $178.08 on Wednesday. The stock’s 50 day moving average price is $242.86 and its 200-day moving average price is $265.38. Manhattan Associates, Inc. has a 52-week low of $169.94 and a 52-week high of $312.60. The stock has a market capitalization of $10.88 billion, a PE ratio of 50.74 and a beta of 1.50.

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.