Alliancebernstein L.P. Sells 115,018 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Alliancebernstein L.P. lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,510,029 shares of the software maker’s stock after selling 115,018 shares during the period. Alliancebernstein L.P. owned about 0.06% of Manhattan Associates worth $948,550,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ascent Group LLC increased its position in shares of Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after purchasing an additional 41 shares during the period. Metis Global Partners LLC grew its stake in Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after buying an additional 55 shares in the last quarter. Kestra Investment Management LLC increased its holdings in Manhattan Associates by 2.9% in the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock valued at $555,000 after buying an additional 57 shares during the period. McGlone Suttner Wealth Management Inc. raised its position in shares of Manhattan Associates by 8.3% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock valued at $220,000 after buying an additional 62 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Manhattan Associates by 2.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock worth $678,000 after acquiring an additional 63 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Price Performance

MANH opened at $173.48 on Monday. Manhattan Associates, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $312.60. The company’s 50 day moving average price is $196.17 and its two-hundred day moving average price is $251.56. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 49.42 and a beta of 1.47.

Analyst Upgrades and Downgrades

Several research analysts have commented on MANH shares. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Loop Capital decreased their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler dropped their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Truist Financial decreased their price target 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. Finally, Robert W. Baird dropped their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

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.