Manhattan Associates, Inc. (NASDAQ:MANH) Short Interest Up 20.0% in February

Manhattan Associates, Inc. (NASDAQ:MANH) was the recipient of a significant increase in short interest in February. As of February 28th, there was short interest totalling 1,380,000 shares, an increase of 20.0% from the February 13th total of 1,150,000 shares. Currently, 2.3% of the company’s stock are short sold. Based on an average daily volume of 727,300 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Citigroup cut their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Robert W. Baird dropped their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Raymond James dropped their target price 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 analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $243.78.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Institutional Trading of Manhattan Associates

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Manhattan Associates by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock worth $1,811,299,000 after acquiring an additional 50,538 shares during the last quarter. FMR LLC boosted its position in Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after acquiring an additional 310,257 shares during the last quarter. State Street Corp boosted its position in Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after acquiring an additional 12,787 shares during the last quarter. Franklin Resources Inc. boosted its position in Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after acquiring an additional 578,295 shares during the last quarter. Finally, Invesco Ltd. boosted its position in Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock worth $502,960,000 after acquiring an additional 55,334 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Trading Up 1.0 %

Shares of MANH stock traded up $1.71 during trading hours on Wednesday, hitting $174.49. The company’s stock had a trading volume of 659,907 shares, compared to its average volume of 502,573. The business has a fifty day moving average of $209.62 and a 200-day moving average of $255.67. The stock has a market cap of $10.67 billion, a price-to-earnings ratio of 49.71 and a beta of 1.47. Manhattan Associates has a twelve month low of $163.10 and a twelve 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.