BNP Paribas Financial Markets Cuts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

BNP Paribas Financial Markets cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 47.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,395 shares of the software maker’s stock after selling 33,601 shares during the quarter. BNP Paribas Financial Markets’ holdings in Manhattan Associates were worth $10,106,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Tree Management LP purchased a new position in shares of Manhattan Associates in the fourth quarter valued at $25,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates in the fourth quarter worth $35,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates in the fourth quarter worth $34,000. Transce3nd LLC bought a new stake in Manhattan Associates in the fourth quarter worth $41,000. Finally, Bank of Jackson Hole Trust bought a new stake in Manhattan Associates in the fourth quarter worth $72,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.88% of the stock is currently owned by corporate insiders.

Manhattan Associates Price Performance

MANH stock opened at $184.67 on Monday. The business has a 50-day moving average price of $169.82 and a 200 day moving average price of $226.01. The company has a market capitalization of $11.21 billion, a P/E ratio of 52.61 and a beta of 1.13. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.

Analyst Ratings Changes

MANH has been the subject of a number of analyst reports. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Loop Capital restated a “hold” rating and issued a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. 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 report on Wednesday, April 23rd. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, Piper Sandler decreased their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.38.

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.