44,049 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Acquired by Proficio Capital Partners LLC

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

Other large investors have also recently bought and sold shares of the company. Atria Investments Inc lifted its position in shares of Manhattan Associates by 12.7% in the fourth quarter. Atria Investments Inc now owns 8,509 shares of the software maker's stock valued at $2,299,000 after acquiring an additional 958 shares in the last quarter. Assetmark Inc. lifted its holdings in Manhattan Associates by 6.1% in the 4th quarter. Assetmark Inc. now owns 10,021 shares of the software maker's stock valued at $2,708,000 after purchasing an additional 572 shares in the last quarter. Crew Capital Management Ltd. boosted its stake in shares of Manhattan Associates by 2.9% during the 4th quarter. Crew Capital Management Ltd. now owns 4,087 shares of the software maker's stock worth $1,104,000 after purchasing an additional 115 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Manhattan Associates by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 403,889 shares of the software maker's stock worth $109,147,000 after acquiring an additional 1,735 shares during the period. Finally, State of Michigan Retirement System lifted its stake in shares of Manhattan Associates by 2.4% during the 4th quarter. State of Michigan Retirement System now owns 16,731 shares of the software maker's stock worth $4,521,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

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Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates Stock Performance

MANH traded up $1.85 during trading on Wednesday, reaching $174.63. The company had a trading volume of 430,660 shares, compared to its average volume of 502,277. The firm's 50-day simple moving average is $211.58 and its 200 day simple moving average is $256.24. The company has a market cap of $10.67 billion, a price-to-earnings ratio of 49.75 and a beta of 1.47. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MANH shares. Truist Financial cut their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Loop Capital dropped 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 note on Wednesday, January 29th. DA Davidson reduced their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $243.78.

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.