Sei Investments Co. Lowers Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Sei Investments Co. reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,309 shares of the software maker’s stock after selling 2,949 shares during the quarter. Sei Investments Co. owned about 0.20% of Manhattan Associates worth $33,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of MANH. American Century Companies Inc. increased its holdings in Manhattan Associates by 3.3% in the 4th quarter. American Century Companies Inc. now owns 859,054 shares of the software maker’s stock valued at $232,151,000 after acquiring an additional 27,774 shares during the last quarter. Virtu Financial LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at about $789,000. Independent Solutions Wealth Management LLC increased its holdings in shares of Manhattan Associates by 3.8% in the fourth quarter. Independent Solutions Wealth Management LLC now owns 4,886 shares of the software maker’s stock worth $1,320,000 after purchasing an additional 179 shares during the last quarter. Royal London Asset Management Ltd. purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $919,000. Finally, Xponance Inc. boosted its stake in Manhattan Associates by 4.0% during the fourth quarter. Xponance Inc. now owns 17,095 shares of the software maker’s stock valued at $4,620,000 after buying an additional 657 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’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 in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MANH. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a report on Monday. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Robert W. Baird dropped their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Citigroup dropped their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Stock Up 0.9 %

Shares of Manhattan Associates stock opened at $179.55 on Wednesday. The stock’s fifty day moving average is $202.16 and its two-hundred day moving average is $253.38. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60. The company has a market capitalization of $10.97 billion, a PE ratio of 51.15 and a beta of 1.47.

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.