Nisa Investment Advisors LLC Lowers Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Nisa Investment Advisors LLC reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 26.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,122 shares of the software maker’s stock after selling 4,785 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Manhattan Associates were worth $3,546,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Manhattan Associates in the third quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates during the third quarter worth about $42,000. Carolina Wealth Advisors LLC purchased a new position in shares of Manhattan Associates in the 3rd quarter valued at approximately $50,000. Brooklyn Investment Group purchased a new position in Manhattan Associates in the 3rd quarter valued at $58,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Manhattan Associates during the third quarter worth about $63,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MANH has been the topic of several research analyst reports. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James upped their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird raised their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Truist Financial increased their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, DA Davidson increased their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.89.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the business’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 sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $289.38 on Friday. The stock’s 50 day moving average price is $282.35 and its 200 day moving average price is $271.40. The stock has a market cap of $17.68 billion, a price-to-earnings ratio of 82.21 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $205.12 and a 12 month high of $312.60.

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.