Fragasso Financial Advisors Inc Buys Shares of 7,459 Manhattan Associates, Inc. (NASDAQ:MANH)

Fragasso Financial Advisors Inc bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,459 shares of the software maker's stock, valued at approximately $1,291,000.

A number of other hedge funds have also made changes to their positions in the business. Twin Tree Management LP bought a new position in Manhattan Associates during the 4th quarter valued at $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter worth about $34,000. Central Pacific Bank Trust Division increased 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 worth $34,000 after acquiring an additional 103 shares during the period. Park Square Financial Group LLC acquired a new position in Manhattan Associates during the 4th quarter valued at about $38,000. Finally, Transce3nd LLC acquired a new position in Manhattan Associates during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of MANH stock traded up $1.27 during trading on Thursday, hitting $192.14. 150,370 shares of the company were exchanged, compared to its average volume of 618,584. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 54.74 and a beta of 1.13. The business's 50-day simple moving average is $176.35 and its 200 day simple moving average is $216.08. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird set a $212.00 price objective on shares of Manhattan Associates and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. Truist Financial lifted their price objective on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Piper Sandler dropped their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research report on Friday, March 14th. Citigroup dropped their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Finally, William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Three 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.com, Manhattan Associates presently has an average rating of "Moderate Buy" and an average target price of $210.14.

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.