Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Hixon Zuercher LLC

Hixon Zuercher LLC raised its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,347 shares of the software maker's stock after acquiring an additional 1,665 shares during the period. Hixon Zuercher LLC's holdings in Manhattan Associates were worth $1,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in Manhattan Associates during the 4th quarter worth approximately $25,000. Central Pacific Bank Trust Division lifted its position in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after buying an additional 103 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at about $38,000. Transce3nd LLC acquired a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $41,000. Finally, EverSource Wealth Advisors LLC increased its position in shares of Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker's stock worth $83,000 after purchasing an additional 182 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 0.6%

MANH stock traded up $1.17 during midday trading on Thursday, hitting $199.88. The company's stock had a trading volume of 269,856 shares, compared to its average volume of 634,239. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The firm has a 50-day simple moving average of $188.75 and a 200-day simple moving average of $202.62. The firm has a market capitalization of $12.14 billion, a P/E ratio of 57.11 and a beta of 1.08.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MANH. Piper Sandler dropped their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Loop Capital restated a "hold" rating and set a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. DA Davidson upped their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Finally, Citigroup cut their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.88.

About Manhattan Associates

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.