SG Americas Securities LLC Acquires 6,835 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

SG Americas Securities LLC boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 876.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,615 shares of the software maker's stock after purchasing an additional 6,835 shares during the period. SG Americas Securities LLC's holdings in Manhattan Associates were worth $1,318,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of 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. Norges Bank bought a new stake in Manhattan Associates in the fourth quarter valued at $201,377,000. Franklin Resources Inc. increased its position in Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock valued at $517,917,000 after purchasing an additional 578,295 shares during the period. Lazard Asset Management LLC raised its holdings in Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker's stock worth $107,842,000 after purchasing an additional 380,722 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Manhattan Associates by 16.2% in the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock worth $602,005,000 after purchasing an additional 310,257 shares during the period. Institutional investors own 98.45% of the company's stock.

Wall Street Analyst Weigh In

MANH has been the subject of a number of research reports. Truist Financial increased their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 22nd. Robert W. Baird set a $212.00 target price on Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday, May 21st. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Piper Sandler decreased their price objective on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Finally, Citigroup dropped their target price 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. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of "Moderate Buy" and a consensus price target of $208.88.

Manhattan Associates Stock Down 1.1%

Shares of NASDAQ MANH traded down $2.14 during trading on Friday, reaching $186.37. The company had a trading volume of 315,914 shares, compared to its average volume of 869,348. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The business's 50-day moving average is $183.10 and its 200 day moving average is $209.25. The stock has a market cap of $11.32 billion, a PE ratio of 53.25 and a beta of 1.08.

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.