Merit Financial Group LLC Has $740,000 Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Merit Financial Group LLC lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 165.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,279 shares of the software maker's stock after acquiring an additional 2,665 shares during the quarter. Merit Financial Group LLC's holdings in Manhattan Associates were worth $740,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MANH. Vanguard Group Inc. raised its holdings 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 purchasing an additional 50,538 shares during the last quarter. 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 worth $602,005,000 after buying an additional 310,257 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after buying an additional 578,295 shares during the period. Invesco Ltd. boosted its stake in Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock valued at $502,960,000 after acquiring an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Manhattan Associates by 101.1% during 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 acquiring an additional 841,276 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Loop Capital restated a "hold" rating and issued a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Piper Sandler decreased their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. DA Davidson lifted their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, Citigroup decreased their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.88.

Manhattan Associates Stock Up 1.9%

MANH traded up $3.55 during trading on Thursday, hitting $192.88. The company had a trading volume of 742,849 shares, compared to its average volume of 627,187. The company has a market capitalization of $11.71 billion, a PE ratio of 54.95 and a beta of 1.08. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The firm's 50-day moving average price is $178.72 and its 200 day moving average price is $213.27.

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.