Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by Strategic Advisors LLC

Strategic Advisors LLC boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 116.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,454 shares of the software maker's stock after purchasing an additional 1,858 shares during the period. Strategic Advisors LLC's holdings in Manhattan Associates were worth $598,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP bought a new position in shares of Manhattan Associates during the fourth quarter worth about $25,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates during the fourth quarter worth approximately $34,000. Central Pacific Bank Trust Division raised its holdings in Manhattan Associates by 107.3% during the first quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock worth $34,000 after purchasing an additional 103 shares in the last quarter. Park Square Financial Group LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at $38,000. Finally, Transce3nd LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at $41,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Up 1.8%

Shares of Manhattan Associates stock opened at $192.63 on Tuesday. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The firm's 50-day moving average price is $181.53 and its two-hundred day moving average price is $210.20. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 54.88 and a beta of 1.08.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MANH. Citigroup dropped their price target on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Robert W. Baird set a $212.00 price objective on shares of Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Loop Capital reissued a "hold" rating and set a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Piper Sandler dropped their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Finally, Redburn Atlantic downgraded shares of Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $208.88.

About Manhattan Associates

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.

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