Commerce Bank Has $3.70 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Commerce Bank lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 7.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,681 shares of the software maker’s stock after selling 1,046 shares during the period. Commerce Bank’s holdings in Manhattan Associates were worth $3,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Twin Tree Management LP bought a new position in Manhattan Associates during the 4th quarter worth $25,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates in the fourth quarter valued at about $35,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates during the fourth quarter worth about $34,000. Bank of Jackson Hole Trust bought a new position in Manhattan Associates in the 4th quarter valued at about $72,000. Finally, EverSource Wealth Advisors LLC raised 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 buying an additional 182 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $163.57 on Monday. The stock has a market capitalization of $9.93 billion, a PE ratio of 46.60 and a beta of 1.36. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The business’s fifty day moving average price is $171.08 and its 200-day moving average price is $238.06.

Insider Activity at Manhattan Associates

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

Analysts Set New Price Targets

Several analysts recently weighed in on MANH shares. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Loop Capital reissued a “hold” rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Robert W. Baird lowered their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Truist Financial dropped their target price on Manhattan Associates from $285.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $212.67.

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.