AlphaQuest LLC Cuts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

AlphaQuest LLC cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 677 shares of the software maker’s stock after selling 73 shares during the quarter. AlphaQuest LLC’s holdings in Manhattan Associates were worth $183,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Amundi increased its position in shares of Manhattan Associates by 14.1% in the fourth quarter. Amundi now owns 108,377 shares of the software maker’s stock valued at $29,532,000 after buying an additional 13,433 shares in the last quarter. Larson Financial Group LLC increased its position in shares of Manhattan Associates by 4.4% in the fourth quarter. Larson Financial Group LLC now owns 22,203 shares of the software maker’s stock valued at $6,000,000 after buying an additional 936 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Manhattan Associates by 15.8% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 51,868 shares of the software maker’s stock valued at $14,188,000 after buying an additional 7,073 shares in the last quarter. Haven Private LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $462,000. Finally, Prescott Group Capital Management L.L.C. purchased a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $1,081,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Up 5.5 %

Shares of Manhattan Associates stock opened at $172.50 on Monday. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60. The business’s fifty day simple moving average is $215.40 and its 200-day simple moving average is $257.50. The firm has a market cap of $10.54 billion, a PE ratio of 49.15 and a beta of 1.47.

Analyst Ratings Changes

Several brokerages recently commented on MANH. Piper Sandler dropped their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday. Loop Capital dropped their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial dropped their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $252.56.

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.