AustralianSuper Pty Ltd Acquires 210,929 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

AustralianSuper Pty Ltd increased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 968.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,719 shares of the software maker's stock after acquiring an additional 210,929 shares during the quarter. AustralianSuper Pty Ltd owned about 0.38% of Manhattan Associates worth $62,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in shares of Manhattan Associates in the third quarter worth $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at about $35,000. Ashton Thomas Securities LLC bought a new stake in Manhattan Associates during the 3rd quarter valued at about $42,000. Carolina Wealth Advisors LLC purchased a new position in Manhattan Associates in the third quarter worth about $50,000. Finally, Brooklyn Investment Group bought a new position in shares of Manhattan Associates in the third quarter worth approximately $58,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup decreased their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating for the company in a report on Monday, January 27th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Loop Capital dropped their price objective on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Robert W. Baird boosted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. Finally, DA Davidson dropped their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $273.33.

Insider Activity at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares of the company's stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded down $4.31 during trading on Wednesday, hitting $183.21. The company had a trading volume of 622,967 shares, compared to its average volume of 886,818. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 52.20 and a beta of 1.50. The company has a fifty day simple moving average of $252.47 and a two-hundred day simple moving average of $266.96. Manhattan Associates, Inc. has a one year low of $169.94 and a one year high of $312.60.

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.