AustralianSuper Pty Ltd increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 59.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 371,526 shares of the software maker's stock after buying an additional 138,807 shares during the quarter. AustralianSuper Pty Ltd owned about 0.61% of Manhattan Associates worth $64,289,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in MANH. Park Square Financial Group LLC acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $38,000. Transce3nd LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $41,000. Central Pacific Bank Trust Division lifted its holdings in shares of Manhattan Associates by 107.3% in the 1st 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. Reyes Financial Architecture Inc. lifted its holdings in shares of Manhattan Associates by 42.5% in the 1st quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after buying an additional 142 shares during the period. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of Manhattan Associates by 57.7% in the 1st quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock valued at $96,000 after buying an additional 202 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on MANH shares. DA Davidson lifted their price objective on 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 lifted their price objective on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a research report on Wednesday. Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price target for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Truist Financial boosted their price objective on Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Finally, Citigroup reiterated a "neutral" rating and issued a $200.00 price target (up previously from $177.00) on shares of Manhattan Associates in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of "Hold" and an average target price of $210.56.
Read Our Latest Report on MANH
Manhattan Associates Stock Performance
Shares of Manhattan Associates stock traded down $1.85 on Friday, reaching $202.05. 337,736 shares of the company were exchanged, compared to its average volume of 636,799. The company's 50-day moving average is $193.57 and its two-hundred day moving average is $195.37. The firm has a market cap of $12.27 billion, a price-to-earnings ratio of 57.73 and a beta of 1.08. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.
Manhattan Associates 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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