Pallas Capital Advisors LLC Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Pallas Capital Advisors LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,094 shares of the software maker's stock, valued at approximately $708,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Manhattan Associates by 0.8% in 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 in the last quarter. FMR LLC boosted its position in Manhattan Associates by 16.2% during the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after buying an additional 310,257 shares during the period. Franklin Resources Inc. grew its position in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after buying an additional 578,295 shares during the last quarter. Invesco Ltd. lifted its holdings in Manhattan Associates by 3.1% in the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after buying an additional 55,334 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted 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 valued at $452,321,000 after buying an additional 841,276 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 2.4%

Shares of MANH stock traded down $4.70 on Friday, hitting $188.19. The stock had a trading volume of 208,712 shares, compared to its average volume of 626,577. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The business has a 50 day moving average price of $179.65 and a 200 day moving average price of $212.60. The company has a market cap of $11.43 billion, a PE ratio of 53.88 and a beta of 1.08.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MANH shares. Truist Financial increased their price objective on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the company an "outperform" rating in a report on Wednesday, May 21st. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Redburn Atlantic lowered 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. Finally, Piper Sandler decreased 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. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company 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.