KBC Group NV Buys 31,892 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

KBC Group NV boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 33.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 126,093 shares of the software maker's stock after purchasing an additional 31,892 shares during the period. KBC Group NV owned about 0.21% of Manhattan Associates worth $21,819,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MANH. Carolina Wealth Advisors LLC boosted its holdings in shares of Manhattan Associates by 505.4% in the first quarter. Carolina Wealth Advisors LLC now owns 4,746 shares of the software maker's stock worth $821,000 after buying an additional 3,962 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Manhattan Associates by 1.9% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,978 shares of the software maker's stock worth $2,073,000 after acquiring an additional 225 shares during the period. Sawgrass Asset Management LLC bought a new position in Manhattan Associates in the first quarter worth approximately $6,169,000. Davidson Capital Management Inc. purchased a new position in shares of Manhattan Associates during the 1st quarter worth $2,028,000. Finally, State of Alaska Department of Revenue grew its position in shares of Manhattan Associates by 16.9% during the 1st quarter. State of Alaska Department of Revenue now owns 24,649 shares of the software maker's stock valued at $4,264,000 after acquiring an additional 3,560 shares during the period. 98.45% of the stock is currently owned by institutional investors.

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 12 month low of $140.81 and a 12 month high of $312.60. The company has a 50 day moving average of $188.75 and a two-hundred day moving average of $202.62. The firm has a market capitalization of $12.14 billion, a price-to-earnings ratio of 57.11 and a beta of 1.08.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MANH. Piper Sandler lowered their target price 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. Loop Capital reaffirmed a "hold" rating and set a $170.00 price objective (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Citigroup cut their price objective 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. Redburn Atlantic cut shares of 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 note on Tuesday, June 10th. Finally, DA Davidson lifted their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.88.

Manhattan Associates Company 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.