Bank of New York Mellon Corp Grows Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Bank of New York Mellon Corp boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 10.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 591,794 shares of the software maker's stock after acquiring an additional 54,273 shares during the quarter. Bank of New York Mellon Corp owned about 0.97% of Manhattan Associates worth $102,404,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BOKF NA boosted its stake in shares of Manhattan Associates by 0.4% during the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock worth $3,522,000 after purchasing an additional 55 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Manhattan Associates by 2.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker's stock valued at $678,000 after buying an additional 63 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Manhattan Associates by 5.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,467 shares of the software maker's stock valued at $396,000 after buying an additional 73 shares during the last quarter. Seeds Investor LLC grew its stake in shares of Manhattan Associates by 5.0% during the fourth quarter. Seeds Investor LLC now owns 1,556 shares of the software maker's stock valued at $420,000 after buying an additional 74 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Manhattan Associates by 14.6% in the first quarter. Fifth Third Bancorp now owns 691 shares of the software maker's stock worth $120,000 after buying an additional 88 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MANH has been the topic of several research analyst reports. Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and cut their price objective for the company from $270.00 to $200.00 in a research report on Tuesday, June 10th. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday, May 21st. DA Davidson boosted 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. Piper Sandler reduced their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Finally, Citigroup decreased their target price on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $208.88.

Manhattan Associates Stock Down 1.5%

MANH stock traded down $3.06 during trading on Thursday, hitting $199.78. 422,629 shares of the company's stock traded hands, compared to its average volume of 638,386. The firm has a market capitalization of $12.13 billion, a P/E ratio of 57.08 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. The business has a fifty day simple moving average of $191.34 and a two-hundred day simple moving average of $199.63.

Manhattan Associates 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.