KLP Kapitalforvaltning AS Takes $12.16 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

KLP Kapitalforvaltning AS bought 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 Securities and Exchange Commission (SEC). The firm bought 45,000 shares of the software maker's stock, valued at approximately $12,161,000. KLP Kapitalforvaltning AS owned about 0.07% of Manhattan Associates as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MANH. Twin Tree Management LP bought a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $25,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates in the fourth quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates during the fourth quarter valued at $35,000. Brooklyn Investment Group bought a new position in shares of Manhattan Associates during the third quarter worth about $58,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates in the 4th quarter worth about $72,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MANH has been the subject of several recent analyst reports. Raymond James decreased their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. Robert W. Baird lowered their target price on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Truist Financial cut their target price on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Loop Capital cut their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $243.78.

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Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the 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 completion of the sale, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company's stock.

Manhattan Associates Trading Down 1.3 %

NASDAQ:MANH traded down $2.30 during mid-day trading on Friday, reaching $172.52. 53,816 shares of the stock were exchanged, compared to its average volume of 862,225. The business has a fifty day moving average price of $198.17 and a 200 day moving average price of $252.30. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60. The firm has a market capitalization of $10.55 billion, a PE ratio of 49.09 and a beta of 1.47.

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.