First Trust Advisors LP Buys 29,977 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

First Trust Advisors LP raised its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 38.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,300 shares of the software maker's stock after purchasing an additional 29,977 shares during the quarter. First Trust Advisors LP owned 0.18% of Manhattan Associates worth $28,997,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Metis Global Partners LLC lifted its holdings in shares of Manhattan Associates by 7.0% in the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker's stock valued at $226,000 after purchasing an additional 55 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in shares of Manhattan Associates by 2.9% in the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker's stock valued at $555,000 after purchasing an additional 57 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Manhattan Associates by 8.3% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker's stock valued at $220,000 after purchasing an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Manhattan Associates by 2.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker's stock valued at $678,000 after acquiring an additional 63 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in Manhattan Associates by 7.8% during the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker's stock worth $254,000 after acquiring an additional 68 shares during the period. Institutional investors own 98.45% of the company's stock.

Insider Activity at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. StockNews.com downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. DA Davidson lifted their target price on Manhattan Associates from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Truist Financial lifted their target price on Manhattan Associates from $180.00 to $190.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Raymond James lowered their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. Finally, William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $212.38.

Manhattan Associates Stock Up 1.1 %

Manhattan Associates stock traded up $1.87 during midday trading on Tuesday, reaching $176.25. The stock had a trading volume of 722,630 shares, compared to its average volume of 571,861. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The firm's 50-day moving average price is $169.01 and its 200 day moving average price is $233.05. The firm has a market capitalization of $10.70 billion, a PE ratio of 50.21 and a beta of 1.36.

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.