Bessemer Group Inc. Trims Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Bessemer Group Inc. decreased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 29.2% during the first quarter, according to the company in 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 0.91% of Manhattan Associates worth $95,797,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Twin Tree Management LP purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates during the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division lifted its position in Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after purchasing an additional 103 shares during the period. Park Square Financial Group LLC bought a new position in Manhattan Associates during the fourth quarter valued at approximately $38,000. Finally, Transce3nd LLC bought a new position in Manhattan Associates during the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Up 1.6%

MANH traded up $3.03 during trading on Friday, hitting $197.25. The company's stock had a trading volume of 1,127,435 shares, compared to its average volume of 635,467. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm has a market cap of $11.98 billion, a PE ratio of 56.36 and a beta of 1.08. The business's 50 day simple moving average is $186.76 and its 200-day simple moving average is $203.39.

Analyst Ratings Changes

MANH has been the topic of a number of research analyst reports. Loop Capital restated a "hold" rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. DA Davidson increased their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Truist Financial increased their price objective on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird set a $212.00 price objective on shares of Manhattan Associates and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.88.

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.