Abacus FCF Advisors LLC Acquires 20,691 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Abacus FCF Advisors LLC raised its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 170.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,865 shares of the software maker's stock after purchasing an additional 20,691 shares during the period. Abacus FCF Advisors LLC owned approximately 0.05% of Manhattan Associates worth $5,687,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Twin Tree Management LP bought a new position in Manhattan Associates in the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new stake in shares of Manhattan Associates in the 4th quarter valued at about $34,000. Park Square Financial Group LLC bought a new position in Manhattan Associates during the 4th quarter worth approximately $38,000. Transce3nd LLC bought a new position in Manhattan Associates during the fourth quarter worth $41,000. Finally, Central Pacific Bank Trust Division lifted its stake in shares of Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after purchasing an additional 103 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Down 2.0%

Shares of Manhattan Associates stock traded down $3.95 on Wednesday, reaching $189.33. The stock had a trading volume of 694,729 shares, compared to its average volume of 626,725. The business's 50 day moving average is $178.72 and its two-hundred day moving average is $213.27. The company has a market cap of $11.50 billion, a P/E ratio of 53.94 and a beta of 1.08. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MANH shares. Truist Financial upped their price objective on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 22nd. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Robert W. Baird set a $212.00 target price on Manhattan Associates and gave the stock an "outperform" rating in a research report on Wednesday, May 21st. DA Davidson upped their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, Piper Sandler cut 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. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.