DAVENPORT & Co LLC Takes $214,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

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

A number of other institutional investors also recently modified their holdings of MANH. Skandinaviska Enskilda Banken AB publ lifted its holdings in Manhattan Associates by 3.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 438,760 shares of the software maker's stock valued at $118,974,000 after buying an additional 15,851 shares during the period. Prudential PLC raised its position in shares of Manhattan Associates by 40.0% in the 4th quarter. Prudential PLC now owns 23,936 shares of the software maker's stock worth $6,468,000 after acquiring an additional 6,835 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Manhattan Associates by 876.3% in the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock valued at $1,318,000 after purchasing an additional 6,835 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of Manhattan Associates during the 4th quarter valued at about $703,000. Finally, Vanguard Group Inc. boosted its position in shares of 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 in the last quarter. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Piper Sandler lowered their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Robert W. Baird set a $212.00 price objective on shares of Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their target price for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. DA Davidson raised 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. Finally, Citigroup decreased their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.88.

Manhattan Associates Stock Down 1.5%

MANH traded down $3.06 during trading on Thursday, hitting $199.78. 422,629 shares of the company's stock were exchanged, compared to its average volume of 639,545. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60. The stock has a market cap of $12.13 billion, a P/E ratio of 57.08 and a beta of 1.08. The business's 50 day moving average is $191.76 and its two-hundred day moving average is $199.08.

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.