Jacobs Levy Equity Management Inc. Cuts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Jacobs Levy Equity Management Inc. lowered its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 14.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,115 shares of the software maker’s stock after selling 7,757 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.08% of Manhattan Associates worth $12,462,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. purchased a new stake in Manhattan Associates in the fourth quarter worth approximately $3,890,000. GDS Wealth Management grew its holdings in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after purchasing an additional 4,683 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Manhattan Associates in the fourth quarter worth approximately $1,326,000. AustralianSuper Pty Ltd grew its holdings in shares of Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after purchasing an additional 210,929 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Manhattan Associates in the fourth quarter worth approximately $1,200,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 6.3%

Shares of MANH stock opened at $196.00 on Tuesday. The firm has a market capitalization of $11.90 billion, a price-to-earnings ratio of 55.84 and a beta of 1.13. The stock has a fifty day moving average of $170.28 and a 200 day moving average of $225.45. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MANH. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Robert W. Baird cut their target price 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. Piper Sandler cut their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Raymond James cut their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, DA Davidson raised their price target on Manhattan Associates from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $212.38.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the firm’s 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 of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.88% of the company’s stock.

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.