Bank of Nova Scotia Lowers Stock Position in Manhattan Associates, Inc. $MANH

Bank of Nova Scotia reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 34.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,900 shares of the software maker’s stock after selling 41,186 shares during the quarter. Bank of Nova Scotia owned 0.13% of Manhattan Associates worth $10,370,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd grew its position in shares of Manhattan Associates by 448.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 112 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $27,000. BNP Paribas purchased a new position in shares of Manhattan Associates during the 4th quarter worth $39,000. TD Private Client Wealth LLC raised its stake in Manhattan Associates by 83.8% during the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after purchasing an additional 109 shares during the period. Finally, Leonteq Securities AG purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at approximately $44,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MANH. DA Davidson reaffirmed a “buy” rating and issued a $200.00 target price on shares of Manhattan Associates in a research report on Wednesday, May 20th. Barclays lowered their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. Rothschild & Co Redburn set a $145.00 price objective on shares of Manhattan Associates in a research report on Thursday, April 16th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Robert W. Baird lifted their price objective on shares of Manhattan Associates from $183.00 to $186.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

Insider Transactions at Manhattan Associates

In related news, CEO Eric Andrew Clark sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total value of $146,770.00. Following the transaction, the chief executive officer owned 92,638 shares in the company, valued at $13,596,479.26. The trade was a 1.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.84% of the stock is owned by company insiders.

Manhattan Associates Stock Performance

MANH stock opened at $151.67 on Monday. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $229.57. The company has a market capitalization of $8.97 billion, a P/E ratio of 42.48 and a beta of 0.97. The business has a 50 day simple moving average of $145.84 and a 200-day simple moving average of $144.94.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.