Raymond James Financial Inc. purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 182,860 shares of the software maker's stock, valued at approximately $49,416,000. Raymond James Financial Inc. owned approximately 0.30% of Manhattan Associates at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in Manhattan Associates during the 4th quarter worth about $3,890,000. GDS Wealth Management lifted its position in Manhattan Associates by 281.4% during the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock worth $1,715,000 after buying an additional 4,683 shares in the last quarter. Oak Thistle LLC bought a new stake in Manhattan Associates during the 4th quarter worth about $1,326,000. AustralianSuper Pty Ltd lifted its position in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock worth $62,890,000 after buying an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in Manhattan Associates during the 4th quarter worth about $1,200,000. 98.45% of the stock is owned by institutional investors.
Insider Activity at Manhattan Associates
In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages have commented on MANH. Piper Sandler reissued an "overweight" rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Citigroup lowered their price objective 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. Loop Capital lowered their price objective 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. Truist Financial lowered their price objective 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. Finally, DA Davidson lowered their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating on the stock in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $273.33.
Get Our Latest Report on Manhattan Associates
Manhattan Associates Stock Performance
Shares of MANH opened at $167.52 on Wednesday. Manhattan Associates, Inc. has a 52 week low of $164.48 and a 52 week high of $312.60. The firm has a market cap of $10.24 billion, a P/E ratio of 47.73 and a beta of 1.47. The firm's 50-day simple moving average is $221.59 and its 200 day simple moving average is $259.47.
Manhattan Associates Profile
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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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