Rhumbline Advisers Grows Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Rhumbline Advisers increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 201,979 shares of the software maker's stock after buying an additional 1,388 shares during the period. Rhumbline Advisers owned 0.33% of Manhattan Associates worth $54,583,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. AustralianSuper Pty Ltd grew its holdings 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 acquiring an additional 210,929 shares during the period. Moloney Securities Asset Management LLC bought a new stake in shares of Manhattan Associates during the 4th quarter valued at about $257,000. Dock Street Asset Management Inc. grew its stake in Manhattan Associates by 6.1% during the fourth quarter. Dock Street Asset Management Inc. now owns 72,031 shares of the software maker's stock worth $19,466,000 after purchasing an additional 4,137 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Manhattan Associates by 31.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,430 shares of the software maker's stock worth $1,738,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake 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 valued at $131,539,000 after buying an additional 357,172 shares during the period. Institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Bruce Richards sold 4,150 shares of the company's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analyst Upgrades and Downgrades

MANH has been the subject of several recent analyst reports. Truist Financial reduced their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. DA Davidson dropped their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, January 29th. Piper Sandler restated an "overweight" rating and issued a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Finally, Loop Capital decreased their target price on Manhattan Associates from $310.00 to $275.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates currently has an average rating of "Moderate Buy" and an average price target of $273.33.

Manhattan Associates Trading Up 1.5 %

MANH traded up $2.77 during trading on Thursday, reaching $185.98. The stock had a trading volume of 560,032 shares, compared to its average volume of 876,913. Manhattan Associates, Inc. has a one year low of $169.94 and a one year high of $312.60. The company has a market capitalization of $11.37 billion, a price-to-earnings ratio of 52.99 and a beta of 1.50. The stock's 50 day moving average is $252.47 and its two-hundred day moving average is $266.96.

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.