Armis Advisers LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,524 shares of the software maker's stock, valued at approximately $412,000.
Several other institutional investors also recently modified their holdings of MANH. Twin Tree Management LP bought a new position in Manhattan Associates in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates in the 4th quarter worth approximately $34,000. Synergy Asset Management LLC bought a new position in Manhattan Associates during the fourth quarter valued at approximately $35,000. Transce3nd LLC bought a new stake in Manhattan Associates in the fourth quarter worth $41,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates in the 4th quarter valued at about $72,000. 98.45% of the stock is currently owned by institutional investors.
Insider Transactions at Manhattan Associates
In other news, CFO Dennis B. Story sold 2,788 shares of the firm's stock in a transaction on 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by insiders.
Analyst Ratings Changes
Several brokerages have commented on MANH. Robert W. Baird set a $212.00 price objective on Manhattan Associates and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Citigroup decreased their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Loop Capital reissued a "hold" rating and set a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. DA Davidson upped their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler cut their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $210.14.
Check Out Our Latest Stock Analysis on Manhattan Associates
Manhattan Associates Price Performance
NASDAQ:MANH traded up $0.61 during mid-day trading on Thursday, reaching $188.89. The stock had a trading volume of 750,002 shares, compared to its average volume of 591,599. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 53.81 and a beta of 1.13. The stock's 50 day simple moving average is $175.18 and its two-hundred day simple moving average is $219.30.
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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