Renaissance Technologies LLC Acquires 16,800 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Renaissance Technologies LLC boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 559,560 shares of the software maker's stock after acquiring an additional 16,800 shares during the period. Renaissance Technologies LLC owned 0.92% of Manhattan Associates worth $151,215,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Massachusetts Financial Services Co. MA lifted its holdings in shares of Manhattan Associates by 101.1% during the fourth 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 last quarter. Norges Bank bought a new position in Manhattan Associates during the 4th quarter valued at approximately $201,377,000. JPMorgan Chase & Co. raised its stake in Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock valued at $284,169,000 after buying an additional 687,933 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after acquiring an additional 578,295 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker's stock worth $131,539,000 after acquiring an additional 357,172 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded up $1.03 during midday trading on Friday, hitting $158.67. 890,088 shares of the stock traded hands, compared to its average volume of 557,563. The firm has a market capitalization of $9.63 billion, a P/E ratio of 45.21 and a beta of 1.36. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a 50-day moving average of $173.89 and a two-hundred day moving average of $242.09.

Wall Street Analysts Forecast Growth

MANH has been the subject of several recent analyst reports. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Citigroup decreased their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Piper Sandler cut their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Finally, Truist Financial lowered their price objective on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average price target of $232.11.

Insider Activity at Manhattan Associates

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. 0.72% of the stock is owned by company insiders.

Manhattan Associates Company 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.