Prudential PLC Has $6.47 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Prudential PLC raised its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 40.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,936 shares of the software maker's stock after acquiring an additional 6,835 shares during the quarter. Prudential PLC's holdings in Manhattan Associates were worth $6,468,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock valued at $452,321,000 after purchasing an additional 841,276 shares during the period. Norges Bank bought a new position in Manhattan Associates in the fourth quarter valued at approximately $201,377,000. JPMorgan Chase & Co. grew its holdings in 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. Franklin Resources Inc. raised its position in shares of Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after acquiring an additional 578,295 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Manhattan Associates by 275.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker's stock valued at $131,539,000 after purchasing an additional 357,172 shares during the period. 98.45% of the stock is owned by institutional investors.

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Manhattan Associates Price Performance

MANH stock traded down $9.89 during midday trading on Thursday, reaching $156.38. 375,764 shares of the company were exchanged, compared to its average volume of 549,863. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 44.41 and a beta of 1.36. The business has a 50-day moving average price of $175.50 and a two-hundred day moving average price of $244.14.

Analyst Ratings Changes

A number of analysts have recently commented on MANH shares. Truist Financial lowered their price target 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. Loop Capital reiterated a "hold" rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday. DA Davidson raised shares of Manhattan Associates to a "strong-buy" rating in a research report on Monday, March 24th. Raymond James reduced their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Finally, StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and an average target price of $232.11.

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 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 of the company's stock, 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 at the SEC website. 0.72% of the stock is owned by company insiders.

About Manhattan Associates

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.