Resona Asset Management Co. Ltd. Purchases New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Resona Asset Management Co. Ltd. bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 18,773 shares of the software maker's stock, valued at approximately $5,084,000.

Several other institutional investors also recently added to or reduced their stakes in MANH. HighTower Advisors LLC grew its stake in shares of Manhattan Associates by 6.4% during the 3rd quarter. HighTower Advisors LLC now owns 5,002 shares of the software maker's stock worth $1,415,000 after acquiring an additional 301 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Manhattan Associates by 13.7% during the third quarter. Janus Henderson Group PLC now owns 2,762 shares of the software maker's stock worth $777,000 after purchasing an additional 332 shares in the last quarter. IHT Wealth Management LLC purchased a new stake in Manhattan Associates during the third quarter valued at about $240,000. Stifel Financial Corp raised its position in Manhattan Associates by 1.6% in the 3rd quarter. Stifel Financial Corp now owns 30,219 shares of the software maker's stock worth $8,503,000 after purchasing an additional 471 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Manhattan Associates by 2.0% in the third quarter. Wellington Management Group LLP now owns 113,806 shares of the software maker's stock worth $32,023,000 after buying an additional 2,237 shares during the period. Institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MANH. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Citigroup dropped their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Piper Sandler decreased their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. Finally, Raymond James reduced their price objective on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. Four investment 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's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $221.00.

Manhattan Associates Stock Up 0.8 %

MANH traded up $1.33 on Monday, hitting $160.00. The company had a trading volume of 133,722 shares, compared to its average volume of 555,998. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The business's fifty day simple moving average is $173.89 and its 200 day simple moving average is $242.09. The company has a market cap of $9.71 billion, a PE ratio of 45.58 and a beta of 1.36.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the 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 sale, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at $17,298,758.29. This represents 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 currently owned by 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.