Mackenzie Financial Corp Acquires 41,597 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Mackenzie Financial Corp grew its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 103.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 81,965 shares of the software maker's stock after acquiring an additional 41,597 shares during the period. Mackenzie Financial Corp owned 0.13% of Manhattan Associates worth $22,150,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Manhattan Associates by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock worth $1,811,299,000 after buying an additional 50,538 shares during the period. FMR LLC raised its stake in shares of Manhattan Associates by 16.2% during the fourth quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after acquiring an additional 310,257 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after purchasing an additional 578,295 shares during the period. Invesco Ltd. grew its stake in shares of Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after purchasing an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Manhattan Associates by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock valued at $452,321,000 after purchasing an additional 841,276 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.88% of the company's stock.

Manhattan Associates Stock Performance

Shares of MANH stock traded up $0.61 during trading hours on Thursday, hitting $188.89. 750,002 shares of the company were exchanged, compared to its average volume of 591,599. The company has a 50 day simple moving average of $175.18 and a two-hundred day simple moving average of $219.30. The firm has a market cap of $11.47 billion, a P/E ratio of 53.81 and a beta of 1.13. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MANH. Raymond James reduced their price target 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. Robert W. Baird set a $212.00 target price on Manhattan Associates and gave the company an "outperform" rating in a report on Wednesday, May 21st. 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. Piper Sandler dropped their price target 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. Finally, Citigroup decreased their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $210.14.

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.