Norges Bank Takes $201.38 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Norges Bank 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 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 745,179 shares of the software maker's stock, valued at approximately $201,377,000. Norges Bank owned 1.22% of Manhattan Associates as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Manhattan Associates by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock worth $1,811,299,000 after purchasing an additional 50,538 shares during the last quarter. State Street Corp grew its stake in Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker's stock worth $619,918,000 after buying an additional 12,787 shares during the last quarter. Geode Capital Management LLC grew its stake in Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker's stock worth $426,308,000 after buying an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after buying an additional 687,933 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Manhattan Associates by 3.3% in the fourth quarter. American Century Companies Inc. now owns 859,054 shares of the software maker's stock valued at $232,151,000 after acquiring an additional 27,774 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. DA Davidson raised Manhattan Associates to a "strong-buy" rating in a report on Monday, March 24th. Truist Financial lowered their target price on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Raymond James decreased their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a report on Wednesday, January 29th. Finally, Robert W. Baird dropped their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research note on Tuesday, March 18th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average price target of $243.78.

Insider Buying and Selling at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the company'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 completion of the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates Stock Down 6.0 %

NASDAQ MANH traded down $9.71 during trading hours on Friday, hitting $152.05. The company's stock had a trading volume of 1,148,712 shares, compared to its average volume of 538,320. Manhattan Associates, Inc. has a twelve month low of $150.20 and a twelve month high of $312.60. The firm has a market capitalization of $9.29 billion, a P/E ratio of 43.32 and a beta of 1.47. The stock has a fifty day moving average of $184.74 and a 200 day moving average of $248.36.

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.