F M Investments LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,772 shares of the software maker's stock, valued at approximately $479,000.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock valued at $1,811,299,000 after purchasing an additional 50,538 shares in the last quarter. FMR LLC raised its position in Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after buying an additional 310,257 shares during the period. Franklin Resources Inc. boosted its position in Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after acquiring an additional 578,295 shares during the period. Invesco Ltd. increased its holdings in shares of Manhattan Associates by 3.1% in the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock valued at $502,960,000 after purchasing an additional 55,334 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Manhattan Associates by 101.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after purchasing an additional 841,276 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.
Insider Activity
In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction on 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 owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.72% of the company's stock.
Manhattan Associates Price Performance
Shares of MANH stock traded up $1.74 during trading on Tuesday, reaching $164.35. The company had a trading volume of 568,894 shares, compared to its average volume of 558,991. The company has a market capitalization of $9.98 billion, a PE ratio of 46.82 and a beta of 1.36. The firm's 50 day simple moving average is $173.13 and its two-hundred day simple moving average is $241.27. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the stock. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Citigroup reduced 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 dropped their target price on 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 downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Raymond James lowered their price target 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 and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $212.67.
Get Our Latest Stock Report on MANH
Manhattan Associates Profile
(
Free Report)
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.
Featured Articles
Before you consider Manhattan Associates, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Manhattan Associates wasn't on the list.
While Manhattan Associates currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
