McLean Asset Management Corp Sells 463 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

McLean Asset Management Corp decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 16.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,388 shares of the software maker’s stock after selling 463 shares during the period. McLean Asset Management Corp’s holdings in Manhattan Associates were worth $645,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new position in Manhattan Associates in the third quarter valued at about $34,000. Ashton Thomas Securities LLC acquired a new position in Manhattan Associates in the third quarter valued at about $42,000. Carolina Wealth Advisors LLC acquired a new position in Manhattan Associates in the third quarter valued at about $50,000. Brooklyn Investment Group acquired a new position in Manhattan Associates in the third quarter valued at about $58,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Manhattan Associates during the third quarter worth about $63,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $289.38 on Monday. The business’s 50 day simple moving average is $282.35 and its 200 day simple moving average is $271.58. The firm has a market cap of $17.68 billion, a PE ratio of 82.21 and a beta of 1.52. Manhattan Associates, Inc. has a 52-week low of $205.12 and a 52-week high of $312.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Raymond James raised their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Piper Sandler assumed coverage on Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price target on the stock. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Citigroup raised their price target on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Finally, Robert W. Baird raised their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.89.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Company 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.