Manhattan Associates, Inc. (NASDAQ:MANH) CFO Sells $476,274.04 in Stock

Manhattan Associates, Inc. (NASDAQ:MANH) CFO Dennis B. Story sold 2,788 shares of Manhattan Associates 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 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 SEC, which is accessible through this hyperlink.

Manhattan Associates Price Performance

NASDAQ MANH opened at $166.66 on Thursday. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 47.48 and a beta of 1.47. The stock’s fifty day moving average price is $219.52 and its 200 day moving average price is $258.82. Manhattan Associates, Inc. has a 1 year low of $164.48 and a 1 year high of $312.60.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Manhattan Associates by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock worth $1,811,299,000 after purchasing an additional 50,538 shares during the period. FMR LLC raised its position in Manhattan Associates by 16.2% during the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after buying an additional 310,257 shares during the last quarter. State Street Corp lifted its stake in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after acquiring an additional 12,787 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after acquiring an additional 578,295 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Manhattan Associates by 3.1% in the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock valued at $502,960,000 after acquiring an additional 55,334 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MANH shares. Loop Capital cut their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Citigroup cut their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. DA Davidson decreased their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Raymond James lowered their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Finally, Truist Financial reduced their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

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.