Pinebridge Investments L.P. Raises Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Pinebridge Investments L.P. increased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 17.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 44,750 shares of the software maker's stock after buying an additional 6,708 shares during the period. Pinebridge Investments L.P. owned 0.07% of Manhattan Associates worth $12,093,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its position in Manhattan Associates by 16.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 513,293 shares of the software maker's stock worth $138,714,000 after acquiring an additional 73,546 shares in the last quarter. Transce3nd LLC purchased a new position in shares of Manhattan Associates in the 4th quarter worth about $41,000. MML Investors Services LLC increased its position in shares of Manhattan Associates by 13.4% during the 4th quarter. MML Investors Services LLC now owns 12,357 shares of the software maker's stock valued at $3,339,000 after purchasing an additional 1,458 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Manhattan Associates by 7.8% during the 4th quarter. MetLife Investment Management LLC now owns 37,132 shares of the software maker's stock valued at $10,035,000 after buying an additional 2,688 shares in the last quarter. Finally, Ossiam lifted its position in Manhattan Associates by 35.2% in the 4th quarter. Ossiam now owns 1,731 shares of the software maker's stock worth $468,000 after buying an additional 451 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

MANH stock traded down $0.20 on Monday, reaching $174.38. The company's stock had a trading volume of 649,718 shares, compared to its average volume of 571,196. The firm has a market cap of $10.59 billion, a PE ratio of 49.68 and a beta of 1.36. The business has a fifty day simple moving average of $169.19 and a two-hundred day simple moving average of $233.92. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60.

Analysts Set New Price Targets

A number of brokerages have commented on MANH. Truist Financial increased their price target on shares of Manhattan Associates from $180.00 to $190.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. DA Davidson raised their price objective on Manhattan Associates from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Robert W. Baird lowered their target price on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Loop Capital restated a "hold" rating and set a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Finally, Raymond James decreased their price target 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $212.38.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on 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 of the company's stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates 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.