Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 21.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,382 shares of the software maker’s stock after selling 32,033 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Manhattan Associates worth $19,966,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Twin Tree Management LP bought a new position in Manhattan Associates in the 4th quarter worth about $25,000. Central Pacific Bank Trust Division lifted its stake in Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock valued at $34,000 after purchasing an additional 103 shares during the last quarter. Park Square Financial Group LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $38,000. Transce3nd LLC purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Manhattan Associates by 144.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock valued at $83,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 2.0%

Shares of MANH stock opened at $199.99 on Thursday. The firm’s 50 day moving average is $192.88 and its 200-day moving average is $196.82. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 57.14 and a beta of 1.08. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Robert W. Baird lifted their target price on shares of Manhattan Associates from $212.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday. Truist Financial lifted their target price on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Redburn Atlantic downgraded shares of Manhattan Associates from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. DA Davidson lifted their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, May 21st. Finally, Loop Capital reiterated a “hold” rating and set a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Hold” and a consensus target price of $210.56.

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.