Lbp Am Sa Acquires 7,241 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

LBP AM SA lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 74.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,911 shares of the software maker's stock after buying an additional 7,241 shares during the period. LBP AM SA's holdings in Manhattan Associates were worth $4,570,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new position in shares of Manhattan Associates during the third quarter valued at approximately $58,000. 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 holdings in shares of Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock valued at $83,000 after purchasing an additional 182 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Insider Buying and Selling

In related news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction 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 transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

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Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded up $1.71 during midday trading on Wednesday, reaching $174.49. The stock had a trading volume of 659,907 shares, compared to its average volume of 502,278. The stock has a 50-day moving average of $211.58 and a 200-day moving average of $256.24. The company has a market capitalization of $10.67 billion, a price-to-earnings ratio of 49.71 and a beta of 1.47. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60.

Wall Street Analyst Weigh In

MANH has been the subject of several research reports. Truist Financial decreased their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. DA Davidson reduced their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Raymond James reduced their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a report on Wednesday, January 29th. Finally, Piper Sandler reduced their target price 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $243.78.

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.