Sei Investments Co. Sells 2,949 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Sei Investments Co. trimmed its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,309 shares of the software maker’s stock after selling 2,949 shares during the period. Sei Investments Co.’s holdings in Manhattan Associates were worth $33,051,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its stake in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in Manhattan Associates by 275.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after acquiring an additional 357,172 shares in the last quarter. Swedbank AB increased its holdings in shares of Manhattan Associates by 1,840.3% in the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after acquiring an additional 350,000 shares during the period. AustralianSuper Pty Ltd raised its position in shares of Manhattan Associates by 968.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after acquiring an additional 210,929 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Manhattan Associates during the 4th quarter worth $49,416,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Loop Capital reduced their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial reduced their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Piper Sandler decreased their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $243.78.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $179.55 on Wednesday. The stock has a 50-day moving average of $202.16 and a two-hundred day moving average of $253.38. The stock has a market cap of $10.97 billion, a P/E ratio of 51.15 and a beta of 1.47. Manhattan Associates, Inc. has a one year low of $163.10 and a one year high of $312.60.

Manhattan Associates Company 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.