Mitsubishi UFJ Trust & Banking Corp Trims Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,027 shares of the software maker’s stock after selling 1,874 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Manhattan Associates were worth $26,491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MANH. JPMorgan Chase & Co. increased its holdings in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Manhattan Associates by 275.6% in 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 boosted its position in shares of Manhattan Associates by 1,840.3% during 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 last quarter. AustralianSuper Pty Ltd increased its position in shares of Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after purchasing an additional 210,929 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $49,416,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MANH has been the subject of a number of research reports. Piper Sandler cut their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Citigroup reduced their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Loop Capital dropped their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by insiders.

Manhattan Associates Price Performance

Shares of MANH opened at $174.82 on Friday. The firm has a market capitalization of $10.69 billion, a PE ratio of 49.81 and a beta of 1.47. The company has a 50-day simple moving average of $198.17 and a two-hundred day simple moving average of $252.30. Manhattan Associates, Inc. has a one year low of $163.10 and a one 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.