Sherbrooke Park Advisers LLC Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Sherbrooke Park Advisers LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,736 shares of the software maker's stock, valued at approximately $469,000.

Several other institutional investors also recently modified their holdings of the stock. ProShare Advisors LLC grew its position in Manhattan Associates by 7.0% during the 4th quarter. ProShare Advisors LLC now owns 2,858 shares of the software maker's stock worth $772,000 after acquiring an additional 188 shares during the last quarter. Quantinno Capital Management LP grew its holdings in shares of Manhattan Associates by 1.1% during the fourth quarter. Quantinno Capital Management LP now owns 52,970 shares of the software maker's stock worth $14,315,000 after purchasing an additional 599 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $2,190,000. Nuveen Asset Management LLC raised its holdings in Manhattan Associates by 2.9% in the 4th quarter. Nuveen Asset Management LLC now owns 231,901 shares of the software maker's stock valued at $62,669,000 after buying an additional 6,622 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Manhattan Associates by 2,075.5% during the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after buying an additional 380,722 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MANH. William Blair upgraded shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Loop Capital restated a "hold" rating and issued a $170.00 price objective (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Robert W. Baird lifted their target price on Manhattan Associates from $197.00 to $212.00 and gave the stock an "outperform" rating in a report on Wednesday. Citigroup reduced their price target on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Finally, Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of "Moderate Buy" and an average price target of $207.29.

Manhattan Associates Stock Performance

Shares of MANH stock traded down $3.88 during mid-day trading on Wednesday, hitting $187.97. The company's stock had a trading volume of 706,775 shares, compared to its average volume of 586,445. The company has a market cap of $11.41 billion, a PE ratio of 53.55 and a beta of 1.13. The company's fifty day simple moving average is $173.46 and its 200-day simple moving average is $222.60. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction on Thursday, March 6th. The stock was 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 represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.88% of the company's stock.

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.