Ensign Peak Advisors Inc boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 37.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,554 shares of the software maker's stock after purchasing an additional 17,934 shares during the period. Ensign Peak Advisors Inc owned about 0.11% of Manhattan Associates worth $17,715,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in MANH. JPMorgan Chase & Co. grew its position in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock valued at $284,169,000 after purchasing an additional 687,933 shares in the last quarter. PFW Advisors LLC bought a new position in Manhattan Associates in the fourth quarter valued at $467,000. Accurate Wealth Management LLC grew its position in Manhattan Associates by 35.7% in the fourth quarter. Accurate Wealth Management LLC now owns 3,873 shares of the software maker's stock valued at $1,028,000 after purchasing an additional 1,019 shares in the last quarter. Oak Thistle LLC bought a new position in Manhattan Associates in the fourth quarter valued at $1,326,000. Finally, Kathmere Capital Management LLC grew its position in Manhattan Associates by 7.8% in the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker's stock valued at $254,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 98.45% of the company's stock.
Manhattan Associates Stock Up 0.7%
Shares of NASDAQ MANH traded up $1.39 during mid-day trading on Friday, reaching $194.49. 451,024 shares of the company were exchanged, compared to its average volume of 584,582. The company's 50-day simple moving average is $172.36 and its 200-day simple moving average is $223.60. The stock has a market capitalization of $11.81 billion, a P/E ratio of 55.41 and a beta of 1.13. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.
Analyst Ratings Changes
A number of research analysts recently weighed in on MANH shares. Robert W. Baird decreased their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a research report on Tuesday, March 18th. Loop Capital reissued a "hold" rating and issued a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Citigroup decreased their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Piper Sandler decreased their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. Finally, Raymond James decreased their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $205.57.
Read Our Latest Stock Analysis on MANH
Insider Transactions at Manhattan Associates
In other news, CFO Dennis B. Story sold 2,788 shares of the firm'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 completion of the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.88% of the stock is currently owned by corporate insiders.
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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