Advisory Services Network LLC Boosts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Advisory Services Network LLC raised its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 100.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,593 shares of the software maker's stock after purchasing an additional 4,305 shares during the quarter. Advisory Services Network LLC's holdings in Manhattan Associates were worth $2,322,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. HighTower Advisors LLC increased its position in shares of Manhattan Associates by 6.4% during the third quarter. HighTower Advisors LLC now owns 5,002 shares of the software maker's stock valued at $1,415,000 after acquiring an additional 301 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Manhattan Associates by 13.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,762 shares of the software maker's stock worth $777,000 after purchasing an additional 332 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Manhattan Associates by 1.6% in the third quarter. Stifel Financial Corp now owns 30,219 shares of the software maker's stock worth $8,503,000 after purchasing an additional 471 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Manhattan Associates by 2.0% during the third quarter. Wellington Management Group LLP now owns 113,806 shares of the software maker's stock valued at $32,023,000 after purchasing an additional 2,237 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in shares of Manhattan Associates during the third quarter valued at $495,000. 98.45% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MANH. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Raymond James reduced their price objective 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. Truist Financial decreased their price objective on shares of Manhattan Associates from $285.00 to $185.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Robert W. Baird lowered their price target on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a report on Tuesday, March 18th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $212.67.

Manhattan Associates Trading Down 2.0 %

Shares of NASDAQ MANH traded down $3.26 during trading hours on Wednesday, hitting $161.09. 846,283 shares of the company traded hands, compared to its average volume of 560,133. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 45.89 and a beta of 1.36. The company's 50 day moving average price is $172.45 and its 200 day moving average price is $240.73.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the firm'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 transaction, the chief financial officer now directly 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 legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is owned by insiders.

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.