Geode Capital Management LLC Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Geode Capital Management LLC lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,554,038 shares of the software maker's stock after purchasing an additional 39,097 shares during the quarter. Geode Capital Management LLC owned 2.54% of Manhattan Associates worth $420,459,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Twin Tree Management LP acquired a new position in shares of Manhattan Associates during the fourth quarter valued at about $25,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the 4th quarter valued at about $35,000. Whipplewood Advisors LLC purchased a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $34,000. Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC raised its position in Manhattan Associates by 144.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock valued at $83,000 after buying an additional 182 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Robert W. Baird lowered their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Truist Financial dropped their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Piper Sandler reduced their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Citigroup cut their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Finally, DA Davidson raised Manhattan Associates to a "strong-buy" rating in a research report on Monday, March 24th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $232.11.

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Insider Transactions 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 value of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company's stock.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded down $10.98 during trading on Thursday, hitting $155.28. 288,960 shares of the company were exchanged, compared to its average volume of 880,443. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The stock has a 50 day moving average of $175.50 and a 200 day moving average of $244.14. The company has a market cap of $9.49 billion, a PE ratio of 44.36 and a beta of 1.36.

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.