NewEdge Wealth LLC Sells 1,391 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

NewEdge Wealth LLC lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 12.2% during the fourth quarter, HoldingsChannel reports. The firm owned 9,966 shares of the software maker’s stock after selling 1,391 shares during the period. NewEdge Wealth LLC’s holdings in Manhattan Associates were worth $2,693,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $3,890,000. GDS Wealth Management raised its holdings 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 acquiring an additional 4,683 shares during the period. Oak Thistle LLC bought a new stake in Manhattan Associates during the 4th quarter valued at $1,326,000. AustralianSuper Pty Ltd raised its holdings in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after acquiring an additional 210,929 shares during the period. Finally, Smith Group Asset Management LLC raised its holdings in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock valued at $25,195,000 after acquiring an additional 1,641 shares during the period. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

MANH has been the topic of a number of analyst reports. Piper Sandler reissued an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Truist Financial lowered their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report 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. DA Davidson reduced their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Loop Capital reduced their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Up 1.0 %

MANH opened at $176.88 on Friday. The stock has a market cap of $10.81 billion, a PE ratio of 50.39 and a beta of 1.50. Manhattan Associates, Inc. has a 52 week low of $169.94 and a 52 week high of $312.60. The business’s fifty day simple moving average is $236.56 and its 200 day simple moving average is $263.66.

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.