Midwest Professional Planners LTD. purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,770 shares of the software maker's stock, valued at approximately $749,000.
A number of other institutional investors also recently added to or reduced their stakes in the business. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $34,000. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates in the third quarter valued at $42,000. Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates in the third quarter valued at $58,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $72,000. Institutional investors and hedge funds own 98.45% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Truist Financial cut their target price on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Loop Capital cut their target price 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. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. DA Davidson cut their target price on Manhattan Associates from $315.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Finally, Citigroup cut their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $243.78.
Get Our Latest Analysis on Manhattan Associates
Insider Buying and Selling at Manhattan Associates
In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now 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 SEC, which is available through the SEC website. Corporate insiders own 0.72% of the company's stock.
Manhattan Associates Stock Performance
NASDAQ:MANH traded down $2.87 during trading hours on Tuesday, hitting $172.78. 628,467 shares of the company's stock traded hands, compared to its average volume of 500,909. The firm has a market cap of $10.56 billion, a P/E ratio of 49.23 and a beta of 1.47. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60. The stock's fifty day moving average price is $213.49 and its two-hundred day moving average price is $256.88.
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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