Lord Abbett & CO. LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,971 shares of the software maker's stock, valued at approximately $1,073,000.
Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock valued at $1,811,299,000 after purchasing an additional 50,538 shares during the period. FMR LLC raised its position in shares of Manhattan Associates by 16.2% in the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock worth $602,005,000 after acquiring an additional 310,257 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after purchasing an additional 578,295 shares during the period. Invesco Ltd. boosted its position in shares of Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock valued at $502,960,000 after purchasing an additional 55,334 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.
Insider Buying and Selling
In other news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction on Thursday, March 6th. The shares were 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 owns 101,263 shares of the company's stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.88% of the stock is currently owned by insiders.
Manhattan Associates Price Performance
Shares of MANH traded up $4.78 during trading hours on Friday, hitting $183.41. The stock had a trading volume of 527,701 shares, compared to its average volume of 572,721. The stock has a fifty day moving average price of $168.75 and a 200 day moving average price of $231.40. The firm has a market capitalization of $11.14 billion, a PE ratio of 52.25 and a beta of 1.36. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60.
Analyst Ratings Changes
Several equities analysts have commented on MANH shares. Citigroup lowered their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Loop Capital reaffirmed a "hold" rating and set a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. StockNews.com cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, Truist Financial lifted their price objective on Manhattan Associates from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $212.38.
Read Our Latest Analysis on MANH
About Manhattan Associates
(
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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