FMR LLC increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 16.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,227,669 shares of the software maker's stock after purchasing an additional 310,257 shares during the quarter. FMR LLC owned approximately 3.65% of Manhattan Associates worth $602,005,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in MANH. Tokio Marine Asset Management Co. Ltd. bought a new position in shares of Manhattan Associates in the 4th quarter valued at about $3,890,000. GDS Wealth Management increased its position in shares of Manhattan Associates by 281.4% during the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock worth $1,715,000 after purchasing an additional 4,683 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Manhattan Associates during the 4th quarter worth approximately $1,326,000. AustralianSuper Pty Ltd raised its stake in shares of Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock worth $62,890,000 after purchasing an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Manhattan Associates in the fourth quarter valued at $1,200,000. Institutional investors own 98.45% of the company's stock.
Analyst Ratings Changes
A number of analysts have commented on the stock. Citigroup cut their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Loop Capital reiterated a "hold" rating and set a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday. DA Davidson upgraded Manhattan Associates to a "strong-buy" rating in a research note on Monday, March 24th. Truist Financial reduced their target price on Manhattan Associates from $285.00 to $185.00 and set a "buy" rating for the company in a research note on Monday. Finally, William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and an average price target of $221.00.
Check Out Our Latest Report on MANH
Manhattan Associates Stock Performance
Shares of MANH stock traded up $1.50 on Monday, hitting $160.17. The company's stock had a trading volume of 176,329 shares, compared to its average volume of 556,122. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The company has a market capitalization of $9.72 billion, a PE ratio of 45.63 and a beta of 1.36. The stock's 50 day moving average is $173.89 and its 200-day moving average is $242.09.
Insiders Place Their Bets
In related news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.72% of the company's stock.
About Manhattan Associates
(
Free Report)
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.
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