QRG Capital Management Inc. Sells 1,213 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

QRG Capital Management Inc. lowered its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 45.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,440 shares of the software maker’s stock after selling 1,213 shares during the period. QRG Capital Management Inc.’s holdings in Manhattan Associates were worth $389,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares during the period. FMR LLC increased its position in Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after buying an additional 130,817 shares in the last quarter. Geode Capital Management LLC raised its stake in Manhattan Associates by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after buying an additional 82,995 shares during the period. JPMorgan Chase & Co. boosted its holdings in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Manhattan Associates in the third quarter valued at approximately $234,249,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MANH has been the topic of a number of research reports. DA Davidson lowered their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James lowered their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, 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, January 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $172.93 on Thursday. The company has a market capitalization of $10.57 billion, a price-to-earnings ratio of 49.27 and a beta of 1.50. Manhattan Associates, Inc. has a 52-week low of $168.04 and a 52-week high of $312.60. The company has a 50-day simple moving average of $232.23 and a two-hundred day simple moving average of $262.67.

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.