Sumitomo Mitsui DS Asset Management Company Ltd Acquires 1,520 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 31.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,430 shares of the software maker's stock after buying an additional 1,520 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Manhattan Associates were worth $1,738,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates in the 3rd quarter valued at $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at $35,000. Ashton Thomas Securities LLC purchased a new stake in Manhattan Associates in the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC purchased a new stake in Manhattan Associates in the 3rd quarter valued at $50,000. Finally, Brooklyn Investment Group purchased a new stake in Manhattan Associates in the 3rd quarter valued at $58,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was 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 owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company's stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Trading Up 1.5 %

Shares of MANH stock traded up $2.83 on Friday, hitting $190.41. 857,847 shares of the stock were exchanged, compared to its average volume of 899,851. The firm has a market capitalization of $11.63 billion, a PE ratio of 54.25 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $169.94 and a one year high of $312.60. The firm's 50 day moving average is $259.20 and its two-hundred day moving average is $268.19.

Analyst Ratings Changes

MANH has been the subject of a number of analyst reports. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday. Citigroup reduced their price objective on Manhattan Associates from $306.00 to $303.00 and set a "neutral" rating for the company in a research note on Monday, January 27th. Robert W. Baird upped their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. 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 note on Wednesday, January 29th. Finally, Piper Sandler restated an "overweight" rating and issued a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $273.33.

Manhattan Associates 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.