Federated Hermes Inc. Has $4.81 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Federated Hermes Inc. boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 84.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,780 shares of the software maker's stock after buying an additional 8,116 shares during the period. Federated Hermes Inc.'s holdings in Manhattan Associates were worth $4,805,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Manhattan Associates during the fourth quarter worth about $3,890,000. GDS Wealth Management increased its stake in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock valued at $1,715,000 after purchasing an additional 4,683 shares during the period. Oak Thistle LLC bought a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $1,326,000. AustralianSuper Pty Ltd boosted its position in shares of Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock worth $62,890,000 after buying an additional 210,929 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in Manhattan Associates in the 4th quarter worth approximately $1,200,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. DA Davidson lowered their target price on shares of Manhattan Associates from $270.00 to $195.00 and set a "buy" rating on the stock in a research note on Monday. Citigroup dropped their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Piper Sandler decreased their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Finally, StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $212.67.

Remove Ads

Manhattan Associates Trading Up 1.1 %

Shares of Manhattan Associates stock traded up $1.74 on Tuesday, reaching $164.35. 568,894 shares of the company were exchanged, compared to its average volume of 559,017. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of 46.82 and a beta of 1.36. The stock has a fifty day moving average price of $173.13 and a 200-day moving average price of $241.27.

Insider Buying and Selling 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 sale, the chief financial officer now 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 can be accessed through the SEC website. Insiders own 0.72% of the company's stock.

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.