Nomura Asset Management Co. Ltd. Cuts Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Nomura Asset Management Co. Ltd. lessened its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 29,536 shares of the software maker’s stock after selling 131 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Manhattan Associates were worth $7,982,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $201,377,000. JPMorgan Chase & Co. lifted its holdings in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of 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 worth $131,539,000 after purchasing 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 purchasing an additional 350,000 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake 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 valued at $62,890,000 after purchasing an additional 210,929 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MANH. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a report on Monday, March 24th. Raymond James dropped their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Truist Financial lowered their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Loop Capital decreased their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

Manhattan Associates Trading Down 0.3 %

Manhattan Associates stock opened at $173.04 on Tuesday. The stock has a 50-day moving average price of $194.16 and a 200 day moving average price of $250.92. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60. The stock has a market cap of $10.58 billion, a PE ratio of 49.30 and a beta of 1.47.

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.