Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. decreased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 29.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 553,613 shares of the software maker's stock after selling 227,811 shares during the quarter. Bessemer Group Inc. owned approximately 0.91% of Manhattan Associates worth $95,797,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Manhattan Associates by 14.0% in the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 17,876 shares of the software maker's stock worth $4,831,000 after purchasing an additional 2,200 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $1,200,000. Amalgamated Bank lifted its stake in shares of Manhattan Associates by 0.7% in the 4th quarter. Amalgamated Bank now owns 30,273 shares of the software maker's stock valued at $8,181,000 after purchasing an additional 223 shares during the period. Cavalier Investments LLC boosted its holdings in Manhattan Associates by 4.2% during the fourth quarter. Cavalier Investments LLC now owns 2,367 shares of the software maker's stock worth $640,000 after buying an additional 96 shares in the last quarter. Finally, Advisor OS LLC grew its position in Manhattan Associates by 89.3% during the fourth quarter. Advisor OS LLC now owns 2,461 shares of the software maker's stock valued at $665,000 after buying an additional 1,161 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 1.4%

Shares of Manhattan Associates stock traded up $2.74 during mid-day trading on Thursday, reaching $194.22. 680,596 shares of the stock traded hands, compared to its average volume of 633,903. The stock has a market capitalization of $11.79 billion, a PE ratio of 55.49 and a beta of 1.08. The business has a 50-day moving average of $185.47 and a 200 day moving average of $206.21. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MANH shares. Truist Financial upped their price objective on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Citigroup reduced their price target on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Piper Sandler dropped 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. DA Davidson boosted their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and an average price target of $208.88.

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.