Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 111.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,353 shares of the software maker's stock after buying an additional 2,293 shares during the period. Bridges Investment Management Inc.'s holdings in Manhattan Associates were worth $753,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Manhattan Associates by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock worth $1,811,299,000 after buying an additional 50,538 shares during the period. FMR LLC grew its stake in Manhattan Associates by 16.2% during the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after purchasing an additional 310,257 shares in the last quarter. Franklin Resources Inc. grew its stake in Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after purchasing an additional 578,295 shares in the last quarter. Invesco Ltd. grew its stake in Manhattan Associates by 3.1% during the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock valued at $502,960,000 after purchasing an additional 55,334 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after acquiring an additional 841,276 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded down $3.62 during mid-day trading on Friday, hitting $196.16. The company had a trading volume of 357,892 shares, compared to its average volume of 640,481. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 56.05 and a beta of 1.08. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The firm's 50 day simple moving average is $192.02 and its two-hundred day simple moving average is $197.91.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MANH. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $270.00 to $200.00 in a research report on Tuesday, June 10th. DA Davidson lifted their target price on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Robert W. Baird set a $212.00 target price on Manhattan Associates and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. Loop Capital reiterated a "hold" rating and issued a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Finally, Truist Financial lifted their target price on Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Manhattan Associates has an average rating of "Moderate Buy" and a consensus target price 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.