Mitsubishi UFJ Trust & Banking Corp Has $26.49 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 98,027 shares of the software maker’s stock after selling 1,874 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.16% of Manhattan Associates worth $26,491,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Ascent Group LLC raised its stake in Manhattan Associates by 4.8% during the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after buying an additional 41 shares during the period. Metis Global Partners LLC increased its holdings in shares of Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock valued at $226,000 after acquiring an additional 55 shares in the last quarter. Kestra Investment Management LLC raised its position in shares of Manhattan Associates by 2.9% during the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after purchasing an additional 57 shares during the period. McGlone Suttner Wealth Management Inc. lifted its holdings 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 worth $220,000 after purchasing an additional 62 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in Manhattan Associates by 2.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock valued at $678,000 after purchasing an additional 63 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MANH shares. Piper Sandler dropped their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Citigroup cut their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Raymond James lowered their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Robert W. Baird cut their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Finally, Truist Financial lowered their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.78.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Down 0.5 %

Shares of MANH stock opened at $174.82 on Friday. The firm has a market cap of $10.69 billion, a P/E ratio of 49.81 and a beta of 1.47. The company has a 50 day moving average of $198.17 and a 200-day moving average of $252.30. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60.

About Manhattan Associates

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.