Royal London Asset Management Ltd. Purchases Shares of 3,400 Manhattan Associates, Inc. (NASDAQ:MANH)

Royal London Asset Management Ltd. purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,400 shares of the software maker's stock, valued at approximately $919,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC increased its position in shares of Manhattan Associates by 74,900.0% during the third quarter. Quest Partners LLC now owns 750 shares of the software maker's stock worth $211,000 after purchasing an additional 749 shares in the last quarter. Pathstone Holdings LLC grew its holdings in shares of Manhattan Associates by 2.0% during the third quarter. Pathstone Holdings LLC now owns 9,739 shares of the software maker's stock worth $2,740,000 after buying an additional 192 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Manhattan Associates in the third quarter valued at about $399,000. PNC Financial Services Group Inc. lifted its stake in shares of Manhattan Associates by 50.3% in the third quarter. PNC Financial Services Group Inc. now owns 4,751 shares of the software maker's stock worth $1,337,000 after buying an additional 1,591 shares in the last quarter. Finally, Advisors Asset Management Inc. acquired a new position in Manhattan Associates during the third quarter worth about $747,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded down $1.34 during trading hours on Friday, reaching $173.48. 691,685 shares of the company were exchanged, compared to its average volume of 529,360. The firm has a market cap of $10.60 billion, a PE ratio of 49.42 and a beta of 1.47. The stock's fifty day moving average is $198.17 and its 200 day moving average is $252.30. Manhattan Associates, Inc. has a 1 year low of $163.10 and a 1 year high of $312.60.

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Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction that occurred 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 directly owns 101,263 shares in the company, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Citigroup cut their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Piper Sandler decreased their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Truist Financial decreased their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $243.78.

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.