Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 15.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 23,168 shares of the software maker’s stock after selling 4,088 shares during the period. Illinois Municipal Retirement Fund’s holdings in Manhattan Associates were worth $6,261,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new position in Manhattan Associates in the 3rd quarter valued at about $234,249,000. JPMorgan Chase & Co. lifted its stake in shares of Manhattan Associates by 213.7% in the third 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after purchasing an additional 357,172 shares during the last quarter. Swedbank AB grew its stake in 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 purchasing an additional 350,000 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its stake 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 purchasing an additional 210,929 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MANH. Raymond James reduced their target price 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. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Loop Capital cut their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $273.33.

Insider Buying and Selling

In other news, 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 transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $177.61 on Thursday. Manhattan Associates, Inc. has a 1 year low of $169.94 and a 1 year high of $312.60. The firm’s 50-day moving average is $240.78 and its 200-day moving average is $264.77. The company has a market cap of $10.86 billion, a P/E ratio of 50.60 and a beta of 1.50.

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.