DekaBank Deutsche Girozentrale Purchases 3,968 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

DekaBank Deutsche Girozentrale lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 32.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,308 shares of the software maker's stock after buying an additional 3,968 shares during the period. DekaBank Deutsche Girozentrale's holdings in Manhattan Associates were worth $2,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MANH. Massachusetts Financial Services Co. MA raised its holdings in Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after purchasing an additional 841,276 shares during the period. Norges Bank bought a new position in Manhattan Associates in the 4th quarter worth $201,377,000. Franklin Resources Inc. raised its holdings in Manhattan Associates by 43.2% in the 4th 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. Lazard Asset Management LLC raised its holdings in Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after purchasing an additional 380,722 shares during the period. Finally, FMR LLC raised its holdings in Manhattan Associates by 16.2% in the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock worth $602,005,000 after purchasing an additional 310,257 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 1.8%

NASDAQ:MANH traded down $3.62 on Friday, reaching $196.16. 357,892 shares of the company's stock traded hands, compared to its average volume of 640,481. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The stock has a 50-day simple moving average of $192.02 and a 200-day simple moving average of $197.91. The firm has a market cap of $11.91 billion, a PE ratio of 56.05 and a beta of 1.08.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Redburn Atlantic cut 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 report on Tuesday, June 10th. Loop Capital reaffirmed a "hold" rating and issued a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. DA Davidson raised their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Robert W. Baird set a $212.00 price target on Manhattan Associates and gave the company an "outperform" rating in a report on Wednesday, May 21st. Finally, Truist Financial raised their price target on Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company 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.