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Pacer Advisors Inc. Purchases 15,607 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Manhattan Associates logo with Computer and Technology background

Pacer Advisors Inc. raised its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 107.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,187 shares of the software maker's stock after acquiring an additional 15,607 shares during the quarter. Pacer Advisors Inc.'s holdings in Manhattan Associates were worth $8,158,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MANH. Massachusetts Financial Services Co. MA bought a new stake in Manhattan Associates during the third quarter worth $234,249,000. JPMorgan Chase & Co. boosted its stake in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after acquiring an additional 687,933 shares during the period. FMR LLC increased its holdings in shares of Manhattan Associates by 7.3% during 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 during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Manhattan Associates by 118.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker's stock valued at $48,860,000 after acquiring an additional 94,283 shares during the period. Finally, Geode Capital Management LLC boosted its position 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 purchasing an additional 82,995 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 3,475 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently weighed in on MANH shares. Robert W. Baird lifted their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Piper Sandler reissued an "overweight" rating and issued a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday. Loop Capital lowered their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating on the stock in a research report on Wednesday. Raymond James cut their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a report on Wednesday. Finally, DA Davidson lowered their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $273.33.

Read Our Latest Stock Report on Manhattan Associates

Manhattan Associates Stock Down 3.9 %

MANH traded down $8.70 during trading on Thursday, reaching $214.14. 1,462,530 shares of the stock traded hands, compared to its average volume of 572,330. The stock's 50-day moving average is $282.19 and its 200 day moving average is $271.95. Manhattan Associates, Inc. has a 12 month low of $205.12 and a 12 month high of $312.60. The stock has a market capitalization of $13.08 billion, a PE ratio of 60.84 and a beta of 1.52.

Manhattan Associates Company Profile

(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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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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