Pictet Asset Management Holding SA Acquires 3,392 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Pictet Asset Management Holding SA increased its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,910 shares of the software maker's stock after purchasing an additional 3,392 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Manhattan Associates worth $9,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Twin Tree Management LP purchased a new stake in shares of Manhattan Associates in the 4th quarter worth about $25,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates during the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates in the fourth quarter worth about $35,000. Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of 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 during the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Manhattan Associates stock traded down $5.65 during midday trading on Monday, reaching $146.40. 1,603,353 shares of the company traded hands, compared to its average volume of 543,678. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The business has a 50 day moving average of $181.91 and a two-hundred day moving average of $247.14. The firm has a market capitalization of $8.95 billion, a price-to-earnings ratio of 41.71 and a beta of 1.36.

Wall Street Analyst Weigh In

MANH has been the topic of several recent research reports. Citigroup cut their price target on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Piper Sandler lowered their price target 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. DA Davidson raised shares of Manhattan Associates to a "strong-buy" rating in a research report on Monday, March 24th. Finally, Truist Financial reduced their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and a consensus price target of $243.78.

Insider Activity

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 transaction of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.72% of the company's stock.

Manhattan Associates 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.