New Age Alpha Advisors LLC Takes $3.52 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

New Age Alpha Advisors LLC bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 13,008 shares of the software maker's stock, valued at approximately $3,515,000.

Several other institutional investors have also added to or reduced their stakes in the business. Cerity Partners LLC raised its holdings in Manhattan Associates by 45.8% in the 3rd quarter. Cerity Partners LLC now owns 19,622 shares of the software maker's stock worth $5,521,000 after purchasing an additional 6,162 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Manhattan Associates by 30.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,604 shares of the software maker's stock valued at $1,577,000 after acquiring an additional 1,304 shares during the period. FMR LLC increased its holdings in Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker's stock worth $539,521,000 after acquiring an additional 130,817 shares in the last quarter. Brooklyn Investment Group bought a new stake in Manhattan Associates during the 3rd quarter worth approximately $58,000. Finally, Townsquare Capital LLC raised its position in shares of Manhattan Associates by 16.2% during the 3rd quarter. Townsquare Capital LLC now owns 1,901 shares of the software maker's stock valued at $535,000 after purchasing an additional 265 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup cut their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. DA Davidson raised Manhattan Associates to a "strong-buy" rating in a research note on Monday, March 24th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Finally, Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $243.78.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction 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 owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by company insiders.

Manhattan Associates Stock Up 1.1 %

NASDAQ:MANH traded up $1.90 during midday trading on Wednesday, hitting $176.66. The stock had a trading volume of 108,441 shares, compared to its average volume of 530,872. The stock has a 50-day moving average of $192.01 and a 200 day moving average of $250.29. The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of 50.33 and a beta of 1.47. Manhattan Associates, Inc. has a one year low of $163.10 and a one year 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.