Nuveen Asset Management LLC Purchases 6,622 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Nuveen Asset Management LLC lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 231,901 shares of the software maker's stock after buying an additional 6,622 shares during the quarter. Nuveen Asset Management LLC owned about 0.38% of Manhattan Associates worth $62,669,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Massachusetts Financial Services Co. MA increased its position in Manhattan Associates by 101.1% during the fourth 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. Norges Bank bought a new position in shares of Manhattan Associates during the fourth quarter worth approximately $201,377,000. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after purchasing an additional 687,933 shares during the period. Franklin Resources Inc. raised its position in shares of 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 in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of Manhattan Associates by 2,075.5% in the fourth quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock valued at $107,842,000 after buying an additional 380,722 shares during the period. Institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on MANH. Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, March 14th. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a report on Thursday, February 13th. Robert W. Baird raised their price target on Manhattan Associates from $197.00 to $212.00 and gave the stock an "outperform" rating in a research report on Wednesday. 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 research report on Wednesday. Finally, Raymond James decreased their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.14.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by corporate insiders.

Manhattan Associates Trading Down 0.3%

Manhattan Associates stock traded down $0.48 during midday trading on Thursday, reaching $187.49. The company's stock had a trading volume of 556,655 shares, compared to its average volume of 586,326. The stock has a market cap of $11.38 billion, a PE ratio of 53.42 and a beta of 1.13. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The business has a 50-day moving average price of $173.77 and a 200-day moving average price of $222.37.

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.