Erste Asset Management GmbH Increases Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Erste Asset Management GmbH increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,765 shares of the software maker's stock after acquiring an additional 5,140 shares during the period. Erste Asset Management GmbH's holdings in Manhattan Associates were worth $7,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new position in Manhattan Associates in the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates during the fourth quarter worth $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates during the third quarter worth $42,000. Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates during the third quarter worth $58,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Manhattan Associates in the fourth quarter worth $72,000. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

MANH traded down $2.87 during midday trading on Tuesday, reaching $172.78. The company had a trading volume of 628,466 shares, compared to its average volume of 500,909. The stock has a market cap of $10.56 billion, a PE ratio of 49.23 and a beta of 1.47. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60. The business has a 50-day moving average price of $213.49 and a two-hundred day moving average price of $256.88.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MANH shares. Loop Capital reduced their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a report on Wednesday, January 29th. Citigroup reduced their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a report on Friday. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $243.78.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.72% of the company's stock.

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.