National Bank of Canada FI Grows Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

National Bank of Canada FI lifted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3,018.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,279 shares of the software maker's stock after acquiring an additional 29,308 shares during the quarter. National Bank of Canada FI's holdings in Manhattan Associates were worth $8,183,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Twin Tree Management LP purchased a new position in shares of Manhattan Associates in the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of Manhattan Associates during the 4th quarter worth $34,000. Synergy Asset Management LLC bought a new position in Manhattan Associates in the 4th quarter worth $35,000. Bank of Jackson Hole Trust purchased a new position in Manhattan Associates during the fourth quarter valued at $72,000. Finally, EverSource Wealth Advisors LLC lifted its position in Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock valued at $83,000 after purchasing an additional 182 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of analyst reports. Citigroup decreased their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Piper Sandler cut their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Loop Capital reissued a "hold" rating and issued a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday. Finally, DA Davidson upgraded shares of Manhattan Associates to a "strong-buy" rating in a research report on Monday, March 24th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and an average price target of $232.11.

Manhattan Associates Trading Down 5.9 %

Shares of NASDAQ MANH traded down $9.88 during trading hours on Thursday, hitting $156.38. 240,742 shares of the company traded hands, compared to its average volume of 549,304. The stock has a market capitalization of $9.56 billion, a price-to-earnings ratio of 44.65 and a beta of 1.36. The company's 50 day moving average price is $175.50 and its 200 day moving average price is $244.14. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60.

About Manhattan Associates

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.