Oppenheimer Asset Management Inc. Has $3.18 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Oppenheimer Asset Management Inc. cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 12.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,753 shares of the software maker’s stock after selling 1,680 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Manhattan Associates were worth $3,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Tokio Marine Asset Management Co. Ltd. bought a new position in Manhattan Associates in the fourth quarter valued at approximately $3,890,000. GDS Wealth Management raised its holdings in shares of Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares during the period. Oak Thistle LLC bought a new stake in Manhattan Associates in the 4th quarter valued at $1,326,000. AustralianSuper Pty Ltd boosted its stake in Manhattan Associates by 968.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after purchasing an additional 210,929 shares during the period. Finally, Smith Group Asset Management LLC increased its holdings in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock worth $25,195,000 after purchasing an additional 1,641 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MANH. Citigroup cut their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. DA Davidson reduced their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased 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 note on Wednesday, January 29th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Loop Capital decreased their target price 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. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Trading Up 1.0 %

NASDAQ MANH opened at $176.88 on Friday. The firm’s fifty day moving average price is $236.56 and its two-hundred day moving average price is $263.75. Manhattan Associates, Inc. has a 1 year low of $169.94 and a 1 year high of $312.60. The firm has a market capitalization of $10.81 billion, a P/E ratio of 50.39 and a beta of 1.50.

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.