GAMMA Investing LLC Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

GAMMA Investing LLC grew its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 10,499.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 176,155 shares of the software maker's stock after buying an additional 174,493 shares during the period. GAMMA Investing LLC owned 0.29% of Manhattan Associates worth $30,482,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA lifted its stake in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock valued at $452,321,000 after buying an additional 841,276 shares in the last quarter. Norges Bank bought a new stake in Manhattan Associates during the 4th quarter valued at $201,377,000. JPMorgan Chase & Co. lifted its holdings in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after buying an additional 578,295 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Manhattan Associates by 2,075.5% in the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after buying an additional 380,722 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Loop Capital reiterated 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. Piper Sandler lowered their price target on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Citigroup decreased their price objective 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, Truist Financial increased their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Three investment 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 a consensus rating of "Moderate Buy" and a consensus price target of $210.14.

Manhattan Associates Stock Up 1.4%

Shares of Manhattan Associates stock traded up $2.60 during trading on Friday, reaching $192.78. The company's stock had a trading volume of 625,138 shares, compared to its average volume of 621,293. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The company has a market cap of $11.70 billion, a price-to-earnings ratio of 54.92 and a beta of 1.08. The firm's 50-day moving average is $176.69 and its two-hundred day moving average is $215.52.

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.