Manhattan Associates, Inc. (NASDAQ:MANH) CFO Dennis B. Story Sells 2,788 Shares

Manhattan Associates, Inc. (NASDAQ:MANH) CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Manhattan Associates Stock Down 3.0 %

Shares of Manhattan Associates stock traded down $5.09 on Monday, hitting $165.64. 886,771 shares of the company were exchanged, compared to its average volume of 495,830. Manhattan Associates, Inc. has a 1-year low of $164.66 and a 1-year high of $312.60. The stock has a market capitalization of $10.12 billion, a price-to-earnings ratio of 47.19 and a beta of 1.47. The company has a 50-day moving average price of $225.75 and a 200 day moving average price of $260.80.

Institutional Trading of Manhattan Associates

Large investors have recently added to or reduced their stakes in the stock. Siemens Fonds Invest GmbH acquired a new position in shares of Manhattan Associates during the 4th quarter valued at about $379,000. Park Square Financial Group LLC acquired a new position in Manhattan Associates in the 4th quarter valued at about $38,000. Menard Financial Group LLC grew its stake in shares of Manhattan Associates by 28.7% in the 4th quarter. Menard Financial Group LLC now owns 3,115 shares of the software maker’s stock valued at $842,000 after buying an additional 694 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $11,599,000. Finally, Virtue Capital Management LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $248,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MANH shares. Raymond James lowered their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Loop Capital dropped their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Citigroup reduced their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, Truist Financial reduced their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Three investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

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.