Abacus FCF Advisors LLC Grows Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Abacus FCF Advisors LLC increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 46.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 12,174 shares of the software maker's stock after purchasing an additional 3,844 shares during the period. Abacus FCF Advisors LLC's holdings in Manhattan Associates were worth $3,290,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in shares of Manhattan Associates during the fourth quarter worth $25,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the 4th quarter worth about $35,000. Whipplewood Advisors LLC purchased a new position in Manhattan Associates during the 4th quarter valued at about $34,000. Bank of Jackson Hole Trust acquired a new position in Manhattan Associates in the 4th quarter valued at about $72,000. Finally, EverSource Wealth Advisors LLC increased its stake in Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock worth $83,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analyst Weigh In

MANH has been the subject of several recent research reports. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Robert W. Baird decreased their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. DA Davidson raised Manhattan Associates to a "strong-buy" rating in a research report on Monday, March 24th. 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 report on Friday, March 14th. Finally, Raymond James lowered their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Manhattan Associates currently has an average rating of "Moderate Buy" and an average target price of $232.11.

Remove Ads

Insider Activity at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the business'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 completion of the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded up $1.03 on Friday, hitting $158.67. 890,088 shares of the company's stock were exchanged, compared to its average volume of 557,563. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The company has a market capitalization of $9.63 billion, a PE ratio of 45.21 and a beta of 1.36. The firm's 50-day moving average is $173.89 and its 200 day moving average is $242.09.

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.