BLI Banque de Luxembourg Investments Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

BLI Banque de Luxembourg Investments acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 34,500 shares of the software maker's stock, valued at approximately $9,352,000. BLI Banque de Luxembourg Investments owned about 0.06% of Manhattan Associates as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Algert Global LLC purchased a new position in Manhattan Associates in the 4th quarter worth about $248,000. Caisse DE Depot ET Placement DU Quebec increased its stake in shares of Manhattan Associates by 39.6% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 212,877 shares of the software maker's stock valued at $57,528,000 after buying an additional 60,379 shares during the period. Freestone Grove Partners LP bought a new position in Manhattan Associates during the 4th quarter worth about $598,000. Northern Trust Corp boosted its stake in shares of Manhattan Associates by 26.5% during the fourth quarter. Northern Trust Corp now owns 761,820 shares of the software maker's stock valued at $205,874,000 after purchasing an additional 159,572 shares in the last quarter. Finally, Quarry LP bought a new position in Manhattan Associates in the fourth quarter worth approximately $189,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company's stock.

Manhattan Associates Trading Down 0.6 %

MANH traded down $1.16 on Tuesday, reaching $182.83. The stock had a trading volume of 608,940 shares, compared to its average volume of 575,748. The business's 50-day moving average price is $169.14 and its two-hundred day moving average price is $228.44. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The company has a market cap of $11.10 billion, a P/E ratio of 52.09 and a beta of 1.13.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MANH. Piper Sandler decreased their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Loop Capital reiterated a "hold" rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Citigroup cut their price target 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 seven have issued a buy rating to the company's 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.

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.