Dynamic Technology Lab Private Ltd Takes $1.43 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Dynamic Technology Lab Private Ltd acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,304 shares of the software maker's stock, valued at approximately $1,433,000.

Several other hedge funds have also recently bought and sold shares of the company. Resona Asset Management Co. Ltd. bought a new position in shares of Manhattan Associates in the fourth quarter worth $5,084,000. Prudential PLC lifted its stake in shares of Manhattan Associates by 40.0% in the 4th quarter. Prudential PLC now owns 23,936 shares of the software maker's stock worth $6,468,000 after acquiring an additional 6,835 shares during the period. Arete Wealth Advisors LLC boosted its holdings in shares of Manhattan Associates by 32.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 985 shares of the software maker's stock valued at $266,000 after acquiring an additional 244 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in Manhattan Associates by 14.2% during the fourth quarter. Motley Fool Asset Management LLC now owns 1,341 shares of the software maker's stock worth $362,000 after purchasing an additional 167 shares in the last quarter. Finally, Kesler Norman & Wride LLC lifted its position in Manhattan Associates by 35.5% in the fourth quarter. Kesler Norman & Wride LLC now owns 2,792 shares of the software maker's stock worth $755,000 after purchasing an additional 732 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Insider Activity

In related 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 transaction, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

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Manhattan Associates Stock Performance

NASDAQ:MANH traded down $8.91 during trading hours on Thursday, hitting $157.35. 437,224 shares of the company's stock traded hands, compared to its average volume of 550,097. The stock's fifty day moving average price is $175.50 and its two-hundred day moving average price is $244.14. The firm has a market cap of $9.62 billion, a P/E ratio of 44.71 and a beta of 1.36. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of research reports. Truist Financial dropped their price objective on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Raymond James dropped their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a report on Wednesday, January 29th. StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Loop Capital reissued a "hold" rating and set a $170.00 price objective (down from $275.00) on shares of Manhattan Associates in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $232.11.

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.