Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 10.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,768 shares of the software maker’s stock after selling 17,876 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.26% of Manhattan Associates worth $41,886,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in Manhattan Associates during the fourth quarter valued at $3,890,000. GDS Wealth Management increased its stake in Manhattan Associates by 281.4% during the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock valued at $1,715,000 after buying an additional 4,683 shares during the period. Oak Thistle LLC bought a new stake in Manhattan Associates during the fourth quarter worth approximately $1,326,000. Smith Group Asset Management LLC lifted its holdings in shares of Manhattan Associates by 1.8% in the fourth quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock valued at $25,195,000 after buying an additional 1,641 shares during the period. Finally, Dock Street Asset Management Inc. grew its stake in shares of Manhattan Associates by 6.1% in the 4th quarter. Dock Street Asset Management Inc. now owns 72,031 shares of the software maker’s stock worth $19,466,000 after purchasing an additional 4,137 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 1.5 %

NASDAQ:MANH opened at $190.41 on Friday. Manhattan Associates, Inc. has a 12-month low of $169.94 and a 12-month high of $312.60. The stock’s fifty day simple moving average is $259.20 and its 200-day simple moving average is $268.19. The firm has a market capitalization of $11.63 billion, a P/E ratio of 54.25 and a beta of 1.50.

Analyst Ratings Changes

Several research firms have recently weighed in on MANH. Piper Sandler reissued an “overweight” rating and issued a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Raymond James lowered their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. DA Davidson decreased their target price 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. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Insider Activity at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.