Principal Financial Group Inc. Sells 117,544 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Principal Financial Group Inc. lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 31.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 253,150 shares of the software maker’s stock after selling 117,544 shares during the quarter. Principal Financial Group Inc.’s holdings in Manhattan Associates were worth $68,411,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. State Street Corp raised its stake in Manhattan Associates by 0.6% in 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 in the last quarter. FMR LLC raised its position in shares of Manhattan Associates by 7.3% during 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 lifted its holdings in shares of 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 acquiring an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of 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 acquiring an additional 687,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new position in Manhattan Associates in the third quarter worth $234,249,000. Institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MANH shares. Loop Capital lowered their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Truist Financial decreased their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Citigroup cut their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research note on Monday, January 27th. Piper Sandler reiterated an “overweight” rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Finally, Raymond James lowered their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Three research 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 an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $183.21 on Thursday. Manhattan Associates, Inc. has a fifty-two week low of $169.94 and a fifty-two week high of $312.60. The company has a market capitalization of $11.20 billion, a P/E ratio of 52.20 and a beta of 1.50. The stock has a 50 day moving average price of $252.47 and a two-hundred day moving average price of $266.96.

Insider Activity at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction on 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 owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of the business’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 in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

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.