DAVENPORT & Co LLC Acquires New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

DAVENPORT & Co LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,234 shares of the software maker's stock, valued at approximately $214,000.

A number of other institutional investors have also modified their holdings of MANH. Twin Tree Management LP purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $25,000. Central Pacific Bank Trust Division increased its holdings in Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after buying an additional 103 shares during the period. Park Square Financial Group LLC purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $38,000. Transce3nd LLC purchased a new position in Manhattan Associates during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock valued at $83,000 after buying an additional 182 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Up 0.0%

Manhattan Associates stock traded up $0.09 during mid-day trading on Wednesday, reaching $202.84. 306,928 shares of the company's stock were exchanged, compared to its average volume of 846,634. The company has a market cap of $12.32 billion, a P/E ratio of 57.95 and a beta of 1.08. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The company has a fifty day moving average of $190.83 and a 200-day moving average of $199.61.

Analysts Set New Price Targets

MANH has been the topic of several research reports. Citigroup cut their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. DA Davidson lifted their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the stock an "outperform" rating in a report on Wednesday, May 21st. Loop Capital reaffirmed a "hold" rating and issued a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Finally, Truist Financial lifted their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" and an average price target of $208.88.

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.