Marietta Investment Partners LLC Decreases Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Marietta Investment Partners LLC trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,858 shares of the software maker’s stock after selling 80 shares during the quarter. Manhattan Associates accounts for approximately 1.5% of Marietta Investment Partners LLC’s holdings, making the stock its 20th biggest holding. Marietta Investment Partners LLC’s holdings in Manhattan Associates were worth $6,718,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Ascent Group LLC raised its position in shares of Manhattan Associates by 4.8% during the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after buying an additional 41 shares in the last quarter. Metis Global Partners LLC raised its position in Manhattan Associates by 7.0% in the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after purchasing an additional 55 shares during the period. Kestra Investment Management LLC raised its position in Manhattan Associates by 2.9% in the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after purchasing an additional 57 shares during the period. CIBC Asset Management Inc raised its position in Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock worth $506,000 after purchasing an additional 58 shares during the period. Finally, McGlone Suttner Wealth Management Inc. raised its position in Manhattan Associates by 8.3% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after purchasing an additional 62 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Manhattan Associates

In other news, 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 transaction of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.72% of the stock is owned by insiders.

Manhattan Associates Stock Down 0.8 %

Shares of MANH opened at $171.08 on Friday. The company has a market cap of $10.46 billion, a price-to-earnings ratio of 48.74 and a beta of 1.47. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60. The company has a 50 day moving average of $205.73 and a two-hundred day moving average of $254.44.

Analysts Set New Price Targets

A number of research firms recently weighed in on MANH. DA Davidson reduced their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Loop Capital reduced their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler reduced their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Citigroup reduced their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.78.

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.