Assenagon Asset Management S.A. Buys 92,434 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Assenagon Asset Management S.A. increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 1,560.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,359 shares of the software maker's stock after buying an additional 92,434 shares during the quarter. Assenagon Asset Management S.A. owned 0.16% of Manhattan Associates worth $17,020,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of Manhattan Associates by 876.3% during the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker's stock worth $1,318,000 after buying an additional 6,835 shares during the period. Abacus FCF Advisors LLC raised its position in Manhattan Associates by 170.0% in the 1st quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker's stock valued at $5,687,000 after purchasing an additional 20,691 shares during the last quarter. Pallas Capital Advisors LLC bought a new position in Manhattan Associates in the 1st quarter valued at $708,000. Farther Finance Advisors LLC raised its position in Manhattan Associates by 67.5% in the 1st quarter. Farther Finance Advisors LLC now owns 2,597 shares of the software maker's stock valued at $454,000 after purchasing an additional 1,047 shares during the last quarter. Finally, UMB Bank n.a. raised its position in Manhattan Associates by 90.8% in the 1st quarter. UMB Bank n.a. now owns 603 shares of the software maker's stock valued at $104,000 after purchasing an additional 287 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

MANH has been the subject of several research analyst reports. Loop Capital reiterated 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. Piper Sandler decreased their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, March 14th. Redburn Atlantic cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price target for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. DA Davidson increased their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Truist Financial increased their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 22nd. Four equities 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 stock currently has a consensus rating of "Moderate Buy" and an average price target of $208.88.

Manhattan Associates Price Performance

Shares of MANH stock traded down $3.57 on Friday, reaching $189.31. 566,913 shares of the stock were exchanged, compared to its average volume of 631,137. The stock has a market cap of $11.49 billion, a PE ratio of 53.93 and a beta of 1.08. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The stock has a 50 day moving average price of $180.56 and a 200 day moving average price of $211.38.

Manhattan Associates Company 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.