Rovin Capital UT ADV Purchases Shares of 1,347 Manhattan Associates, Inc. (NASDAQ:MANH)

Rovin Capital UT ADV acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,347 shares of the software maker's stock, valued at approximately $233,000.

A number of other hedge funds have also modified their holdings of the business. Hixon Zuercher LLC increased its stake in shares of Manhattan Associates by 24.9% during the 1st quarter. Hixon Zuercher LLC now owns 8,347 shares of the software maker's stock worth $1,444,000 after purchasing an additional 1,665 shares in the last quarter. Hills Bank & Trust Co increased its stake in shares of Manhattan Associates by 34.9% during the 1st quarter. Hills Bank & Trust Co now owns 2,194 shares of the software maker's stock worth $380,000 after purchasing an additional 568 shares in the last quarter. KBC Group NV grew its stake in Manhattan Associates by 33.9% in the 1st quarter. KBC Group NV now owns 126,093 shares of the software maker's stock worth $21,819,000 after acquiring an additional 31,892 shares during the period. Carolina Wealth Advisors LLC grew its stake in Manhattan Associates by 505.4% in the 1st quarter. Carolina Wealth Advisors LLC now owns 4,746 shares of the software maker's stock worth $821,000 after acquiring an additional 3,962 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in Manhattan Associates by 1.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,978 shares of the software maker's stock worth $2,073,000 after acquiring an additional 225 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Up 0.6%

MANH stock traded up $1.17 during trading on Friday, reaching $199.88. The stock had a trading volume of 269,864 shares, compared to its average volume of 637,729. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The company has a market capitalization of $12.14 billion, a P/E ratio of 57.11 and a beta of 1.08. The firm has a fifty day moving average price of $189.77 and a 200 day moving average price of $200.71.

Analyst Upgrades and Downgrades

Several research firms have commented on MANH. Robert W. Baird set a $212.00 target price on shares of Manhattan Associates and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. DA Davidson lifted their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, May 21st. Citigroup decreased their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Loop Capital reiterated a "hold" rating and issued a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Finally, Piper Sandler reduced their target price 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target 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.