West Coast Financial LLC Has $7.09 Million Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

West Coast Financial LLC reduced its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,944 shares of the software maker’s stock after selling 1,425 shares during the quarter. West Coast Financial LLC owned 0.07% of Manhattan Associates worth $7,085,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Lifestyle Asset Management Inc. grew its holdings in shares of Manhattan Associates by 69.4% during the first quarter. Lifestyle Asset Management Inc. now owns 5,631 shares of the software maker’s stock valued at $974,000 after buying an additional 2,307 shares during the last quarter. Merit Financial Group LLC grew its holdings in shares of Manhattan Associates by 165.1% during the first quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker’s stock valued at $740,000 after buying an additional 2,665 shares during the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Manhattan Associates by 57.7% during the first quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker’s stock valued at $96,000 after buying an additional 202 shares during the last quarter. Fragasso Financial Advisors Inc acquired a new position in shares of Manhattan Associates during the first quarter valued at about $1,291,000. Finally, GAMMA Investing LLC grew its holdings in shares of Manhattan Associates by 10,499.0% during the first quarter. GAMMA Investing LLC now owns 176,155 shares of the software maker’s stock valued at $30,482,000 after buying an additional 174,493 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on MANH shares. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Loop Capital restated a “hold” rating and set a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the stock an “outperform” rating in a report on Wednesday, May 21st. Citigroup cut their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, Truist Financial boosted their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 22nd. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.14.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $190.18 on Friday. The firm has a market cap of $11.55 billion, a price-to-earnings ratio of 54.18 and a beta of 1.13. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The firm’s 50-day simple moving average is $176.69 and its two-hundred day simple moving average is $215.52.

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.