Cetera Investment Advisers lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 38.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 5,902 shares of the software maker's stock after acquiring an additional 1,645 shares during the period. Cetera Investment Advisers' holdings in Manhattan Associates were worth $1,595,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Twin Tree Management LP purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $35,000. Transce3nd LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $41,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $72,000. Hedge funds and other institutional investors own 98.45% of the company's stock.
Insider Activity at Manhattan Associates
In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at approximately $17,298,758.29. This represents a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.88% of the stock is owned by corporate insiders.
Manhattan Associates Stock Down 1.2%
Shares of MANH stock traded down $2.26 during trading hours on Monday, hitting $185.23. 692,253 shares of the company's stock were exchanged, compared to its average volume of 589,240. The firm has a market cap of $11.25 billion, a P/E ratio of 52.77 and a beta of 1.13. The firm has a 50 day moving average of $174.47 and a two-hundred day moving average of $219.72. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on MANH. Citigroup dropped their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research report on Wednesday, January 29th. DA Davidson upped their price objective on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Loop Capital restated 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. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $210.14.
Get Our Latest Analysis on MANH
Manhattan Associates Profile
(
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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