Orion Portfolio Solutions LLC Has $3.45 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Orion Portfolio Solutions LLC reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 16.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,770 shares of the software maker’s stock after selling 2,479 shares during the period. Orion Portfolio Solutions LLC’s holdings in Manhattan Associates were worth $3,451,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MANH. Ascent Group LLC boosted its position 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 acquiring an additional 41 shares during the last quarter. Metis Global Partners LLC lifted its position in shares of Manhattan Associates by 7.0% in the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after purchasing an additional 55 shares in the last quarter. Kestra Investment Management LLC boosted its holdings in 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 last quarter. McGlone Suttner Wealth Management Inc. grew its position in Manhattan Associates by 8.3% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock valued at $220,000 after purchasing an additional 62 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its stake 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 buying an additional 63 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MANH has been the subject of several analyst reports. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Raymond James decreased their price target 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. Citigroup lowered their price target 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. Truist Financial decreased their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Loop Capital dropped their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Stock Performance

Shares of MANH opened at $173.48 on Monday. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 49.42 and a beta of 1.47. The business’s fifty day moving average is $196.17 and its 200-day moving average is $251.56.

Insider Buying and Selling at Manhattan Associates

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

Manhattan Associates 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.