Premier Fund Managers Ltd Lowers Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Premier Fund Managers Ltd decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 20.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the software maker’s stock after selling 50,000 shares during the period. Manhattan Associates makes up approximately 1.9% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 17th biggest position. Premier Fund Managers Ltd’s holdings in Manhattan Associates were worth $54,216,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MANH. Quest Partners LLC lifted its position in shares of Manhattan Associates by 74,900.0% during the third quarter. Quest Partners LLC now owns 750 shares of the software maker’s stock worth $211,000 after purchasing an additional 749 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Manhattan Associates by 50.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,751 shares of the software maker’s stock worth $1,337,000 after buying an additional 1,591 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Manhattan Associates by 45.8% during the 3rd quarter. Cerity Partners LLC now owns 19,622 shares of the software maker’s stock valued at $5,521,000 after purchasing an additional 6,162 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Manhattan Associates by 30.3% during the third quarter. Daiwa Securities Group Inc. now owns 5,604 shares of the software maker’s stock worth $1,577,000 after acquiring an additional 1,304 shares during the last quarter. Finally, FMR LLC increased its stake in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after purchasing an additional 130,817 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on MANH. Raymond James decreased their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a research note on Monday. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Loop Capital dropped their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $243.78.

Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the business’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 sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Manhattan Associates Stock Down 0.5 %

Shares of NASDAQ:MANH opened at $174.82 on Friday. The stock has a market cap of $10.69 billion, a price-to-earnings ratio of 49.81 and a beta of 1.47. The firm’s 50 day moving average price is $198.17 and its 200 day moving average price is $252.30. Manhattan Associates, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $312.60.

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.