Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 10.5% during the fourth quarter, Holdings Channel reports. The fund owned 42,327 shares of the software maker’s stock after selling 4,981 shares during the quarter. Vinva Investment Management Ltd’s holdings in Manhattan Associates were worth $11,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Xponance Inc. increased its stake in shares of Manhattan Associates by 4.0% in the fourth quarter. Xponance Inc. now owns 17,095 shares of the software maker’s stock worth $4,620,000 after acquiring an additional 657 shares during the period. Generali Asset Management SPA SGR acquired a new stake in Manhattan Associates during the fourth quarter valued at $2,782,000. William Blair Investment Management LLC grew its position in Manhattan Associates by 9.2% during the fourth quarter. William Blair Investment Management LLC now owns 682,013 shares of the software maker’s stock valued at $184,307,000 after buying an additional 57,586 shares during the period. Twin Tree Management LP acquired a new stake in Manhattan Associates during the fourth quarter valued at $25,000. Finally, First National Advisers LLC grew its position in Manhattan Associates by 8.8% during the fourth quarter. First National Advisers LLC now owns 11,595 shares of the software maker’s stock valued at $3,133,000 after buying an additional 936 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Down 1.6 %

Shares of NASDAQ MANH opened at $172.78 on Wednesday. The company’s 50-day simple moving average is $211.58 and its 200-day simple moving average is $256.24. The firm has a market cap of $10.56 billion, a price-to-earnings ratio of 49.23 and a beta of 1.47. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60.

Analysts Set New Price Targets

MANH has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler dropped their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Citigroup dropped their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $243.78.

Insider Transactions at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

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.