William Blair Investment Management LLC increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 682,013 shares of the software maker's stock after purchasing an additional 57,586 shares during the period. William Blair Investment Management LLC owned approximately 1.12% of Manhattan Associates worth $184,307,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in shares of Manhattan Associates during the fourth quarter worth about $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter worth about $34,000. Synergy Asset Management LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at about $35,000. Brooklyn Investment Group purchased a new position in shares of Manhattan Associates in the 3rd quarter worth about $58,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates during the 4th quarter valued at $72,000. Institutional investors and hedge funds own 98.45% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Robert W. Baird dropped their price objective on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research note on Tuesday. DA Davidson dropped their price target on Manhattan Associates from $315.00 to $270.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Citigroup lowered their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $243.78.
Check Out Our Latest Research Report on MANH
Insider Buying and Selling
In related news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.
Manhattan Associates Stock Performance
Shares of NASDAQ MANH traded down $1.36 during midday trading on Friday, hitting $171.08. 2,852,768 shares of the company traded hands, compared to its average volume of 513,363. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60. The firm has a market cap of $10.46 billion, a P/E ratio of 48.74 and a beta of 1.47. The stock has a 50-day moving average price of $207.62 and a 200 day moving average price of $255.09.
Manhattan Associates Company 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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