Proficio Capital Partners LLC Invests $11.90 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

Proficio Capital Partners LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,049 shares of the software maker's stock, valued at approximately $11,904,000. Proficio Capital Partners LLC owned 0.07% of Manhattan Associates as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Manhattan Associates in the 3rd quarter valued at $34,000. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at about $34,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $35,000. Ashton Thomas Securities LLC acquired a new position in shares of Manhattan Associates during the 3rd quarter worth about $42,000. Finally, Brooklyn Investment Group purchased a new position in Manhattan Associates in the 3rd quarter valued at about $58,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MANH shares. DA Davidson cut their price objective on Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a research note on Wednesday, January 29th. Piper Sandler reissued an "overweight" rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Loop Capital dropped their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Finally, Citigroup decreased their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating on the stock in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus target price of $273.33.

Manhattan Associates Trading Down 1.5 %

Manhattan Associates stock traded down $2.54 during midday trading on Thursday, hitting $170.39. 227,725 shares of the stock were exchanged, compared to its average volume of 862,365. The stock's 50-day simple moving average is $232.23 and its 200 day simple moving average is $262.67. Manhattan Associates, Inc. has a fifty-two week low of $168.04 and a fifty-two week high of $312.60. The stock has a market capitalization of $10.41 billion, a price-to-earnings ratio of 48.46 and a beta of 1.50.

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.