Bank of New York Mellon Corp Sells 10,815 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Bank of New York Mellon Corp lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 537,521 shares of the software maker’s stock after selling 10,815 shares during the period. Bank of New York Mellon Corp’s holdings in Manhattan Associates were worth $145,260,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new position in Manhattan Associates during the 4th quarter valued at about $1,200,000. South Dakota Investment Council lifted its stake in Manhattan Associates by 48.2% during the 4th quarter. South Dakota Investment Council now owns 11,969 shares of the software maker’s stock valued at $3,235,000 after acquiring an additional 3,892 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Manhattan Associates by 14.0% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,876 shares of the software maker’s stock valued at $4,831,000 after acquiring an additional 2,200 shares during the period. Olympiad Research LP bought a new position in Manhattan Associates during the 4th quarter valued at about $241,000. Finally, Handelsbanken Fonder AB lifted its stake in Manhattan Associates by 3.2% during the 4th quarter. Handelsbanken Fonder AB now owns 15,888 shares of the software maker’s stock valued at $4,294,000 after acquiring an additional 500 shares during the period. Institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MANH. Piper Sandler restated an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Loop Capital reduced their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Raymond James reduced their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. 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. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Trading Up 1.0 %

Manhattan Associates stock opened at $176.88 on Friday. The firm has a 50 day moving average of $236.56 and a 200 day moving average of $263.66. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 50.39 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $169.94 and a 12-month high of $312.60.

Manhattan Associates 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.