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

AlphaQuest LLC decreased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 9.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 677 shares of the software maker’s stock after selling 73 shares during the period. AlphaQuest LLC’s holdings in Manhattan Associates were worth $183,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. State Street Corp increased its holdings in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares during the period. FMR LLC increased its holdings in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares during the period. Geode Capital Management LLC increased its holdings 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 purchasing an additional 82,995 shares during the period. JPMorgan Chase & Co. increased its holdings in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates during the 3rd quarter worth about $234,249,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 5.5 %

Manhattan Associates stock opened at $172.50 on Monday. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60. The stock has a 50 day moving average of $215.40 and a two-hundred day moving average of $257.50. The stock has a market capitalization of $10.54 billion, a price-to-earnings ratio of 49.15 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MANH. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Loop Capital dropped their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Piper Sandler dropped their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday. DA Davidson dropped their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $252.56.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

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.