HighPoint Advisor Group LLC Trims Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

HighPoint Advisor Group LLC trimmed its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.0% in the 4th quarter, HoldingsChannel reports. The firm owned 1,774 shares of the software maker’s stock after selling 133 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Manhattan Associates were worth $479,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Twin Tree Management LP purchased a new stake in Manhattan Associates in the fourth quarter worth about $25,000. Whipplewood Advisors LLC purchased a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $35,000. Bank of Jackson Hole Trust purchased a new stake in Manhattan Associates in the fourth quarter worth $72,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Manhattan Associates by 144.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock worth $83,000 after purchasing an additional 182 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Robert W. Baird decreased their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Loop Capital dropped 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. Citigroup reduced their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Finally, Raymond James dropped their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $178.89 on Thursday. The company has a market capitalization of $10.93 billion, a price-to-earnings ratio of 50.97 and a beta of 1.47. The stock has a 50-day moving average of $189.95 and a 200 day moving average of $249.79. Manhattan Associates, Inc. has a one year low of $163.10 and a one year high of $312.60.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

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.