Bank of Nova Scotia Has $582,000 Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Bank of Nova Scotia lowered its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 27.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,155 shares of the software maker’s stock after selling 829 shares during the period. Bank of Nova Scotia’s holdings in Manhattan Associates were worth $582,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Twin Tree Management LP acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $25,000. Synergy Asset Management LLC bought a new position in Manhattan Associates during the fourth quarter worth $35,000. Whipplewood Advisors LLC acquired a new stake in Manhattan Associates in the fourth quarter worth $34,000. Bank of Jackson Hole Trust bought a new stake in Manhattan Associates in the fourth quarter valued at $72,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock valued at $83,000 after purchasing an additional 182 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Price Performance

NASDAQ MANH opened at $162.61 on Tuesday. The company has a fifty day moving average price of $173.13 and a 200-day moving average price of $241.27. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 46.33 and a beta of 1.36. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value 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. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MANH shares. Piper Sandler reduced their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Raymond James lowered their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, Citigroup lowered their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $212.67.

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.