Central Pacific Bank Trust Division trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 92.0% in the third quarter, HoldingsChannel.com reports. The firm owned 174 shares of the software maker’s stock after selling 2,004 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Manhattan Associates were worth $49,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Tobam acquired a new stake in Manhattan Associates in the first quarter worth approximately $25,000. Innealta Capital LLC acquired a new stake in Manhattan Associates in the second quarter worth approximately $26,000. Benjamin Edwards Inc. acquired a new stake in Manhattan Associates in the first quarter worth approximately $27,000. International Assets Investment Management LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter valued at $27,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Manhattan Associates during the 1st quarter valued at $31,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.
Manhattan Associates Stock Performance
Shares of NASDAQ MANH traded up $5.13 during mid-day trading on Friday, reaching $282.41. The company had a trading volume of 284,020 shares, compared to its average volume of 408,703. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $287.63. The stock has a market capitalization of $17.39 billion, a PE ratio of 92.29 and a beta of 1.50. The stock’s 50 day moving average is $262.18 and its 200-day moving average is $242.40.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on MANH shares. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. DA Davidson increased their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Loop Capital increased their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Citigroup increased their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $264.57.
Check Out Our Latest Stock Analysis on MANH
Insiders Place Their Bets
In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Manhattan Associates
- Uptrend Stocks Explained: Learn How to Trade Using Uptrends
- 3 Small-Cap Stocks on the Way to Bigger and Better Days
- Comparing and Trading High PE Ratio Stocks
- MarketBeat Week in Review – 9/30 – 10/4
- Unveiling The Power Of VWAP: A Key Indicator For Traders
- Top Streaming Companies: Who’s Winning the Battle?
Want to see what other hedge funds are holding MANH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manhattan Associates, Inc. (NASDAQ:MANH – Free Report).
Receive News & Ratings for Manhattan Associates Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manhattan Associates and related companies with MarketBeat.com's FREE daily email newsletter.