Manhattan Associates, Inc. (NASDAQ:MANH) Stake Increased by Amundi

Amundi increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,377 shares of the software maker's stock after buying an additional 13,433 shares during the period. Amundi owned about 0.18% of Manhattan Associates worth $29,532,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Ascent Group LLC boosted its holdings in Manhattan Associates by 4.8% in the third quarter. Ascent Group LLC now owns 896 shares of the software maker's stock worth $252,000 after purchasing an additional 41 shares during the period. Huntington National Bank boosted its holdings in Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker's stock worth $247,000 after purchasing an additional 49 shares during the period. Metis Global Partners LLC boosted its holdings in Manhattan Associates by 7.0% in the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker's stock worth $226,000 after purchasing an additional 55 shares during the period. Kestra Investment Management LLC boosted its holdings in Manhattan Associates by 2.9% in the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker's stock worth $555,000 after purchasing an additional 57 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Manhattan Associates by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker's stock worth $506,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction dated Thursday, March 6th. The shares were 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 in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company's stock.

Manhattan Associates Stock Down 0.5 %

Shares of NASDAQ MANH opened at $166.66 on Thursday. Manhattan Associates, Inc. has a fifty-two week low of $164.48 and a fifty-two week high of $312.60. The firm's 50-day simple moving average is $219.52 and its 200 day simple moving average is $258.82. The stock has a market cap of $10.19 billion, a P/E ratio of 47.48 and a beta of 1.47.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MANH shares. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Loop Capital reduced their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Piper Sandler reissued an "overweight" rating and set a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Finally, Raymond James reduced their price target 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $273.33.

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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.

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