Pitcairn Co. Has $302,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Pitcairn Co. decreased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 71.7% in the 4th quarter, HoldingsChannel reports. The firm owned 1,119 shares of the software maker’s stock after selling 2,835 shares during the period. Pitcairn Co.’s holdings in Manhattan Associates were worth $302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MANH. Metis Global Partners LLC increased its stake in shares of Manhattan Associates by 7.0% during the fourth 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 increased its position in Manhattan Associates by 2.9% during the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after buying an additional 57 shares during the period. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Manhattan Associates by 8.3% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after buying an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Manhattan Associates by 2.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock worth $678,000 after buying an additional 63 shares in the last quarter. Finally, Kathmere Capital Management LLC grew its stake in shares of Manhattan Associates by 7.8% in the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker’s stock valued at $254,000 after acquiring an additional 68 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MANH shares. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a report on Monday, March 24th. Loop Capital cut their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Finally, Robert W. Baird decreased their price target on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

Manhattan Associates Trading Down 6.0 %

Shares of Manhattan Associates stock opened at $152.05 on Monday. The firm has a market capitalization of $9.29 billion, a PE ratio of 43.32 and a beta of 1.36. The firm’s 50 day moving average is $184.74 and its 200 day moving average is $248.04. Manhattan Associates, Inc. has a 1 year low of $149.26 and a 1 year high of $312.60.

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 stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

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.