Short Interest in Manhattan Associates, Inc. (NASDAQ:MANH) Expands By 37.2%

Manhattan Associates, Inc. (NASDAQ:MANH) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 2,140,000 shares, a growth of 37.2% from the March 15th total of 1,560,000 shares. Based on an average daily volume of 908,300 shares, the short-interest ratio is currently 2.4 days. Approximately 3.6% of the shares of the company are sold short.

Analysts Set New Price Targets

MANH has been the subject of a number of analyst reports. Citigroup cut their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. DA Davidson cut their target price on shares of Manhattan Associates from $270.00 to $195.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Robert W. Baird decreased their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. 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, Loop Capital reissued a “hold” rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $212.67.

Insider Buying and Selling

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred 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. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Manhattan Associates

Large investors have recently bought and sold shares of the stock. Twin Tree Management LP acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $25,000. Whipplewood Advisors LLC acquired a new stake in Manhattan Associates in the 4th quarter valued at about $34,000. Central Pacific Bank Trust Division boosted its position in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock valued at $34,000 after purchasing an additional 103 shares in the last quarter. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates in the 4th quarter worth approximately $35,000. Finally, Park Square Financial Group LLC bought a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $163.57 on Friday. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 46.60 and a beta of 1.36. The business has a fifty day moving average of $171.08 and a 200-day moving average of $238.34. Manhattan Associates has a 1 year low of $140.81 and a 1 year high of $312.60.

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.