SG Americas Securities LLC Increases Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

SG Americas Securities LLC increased its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 876.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,615 shares of the software maker's stock after acquiring 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.

A number of other hedge funds also recently added to or reduced their stakes in the company. Metis Global Partners LLC raised its holdings in Manhattan Associates by 7.0% in the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker's stock worth $226,000 after acquiring an additional 55 shares during the last quarter. BOKF NA raised its holdings in Manhattan Associates by 0.4% in the 4th quarter. BOKF NA now owns 13,271 shares of the software maker's stock worth $3,522,000 after acquiring an additional 55 shares during the last quarter. Kestra Investment Management LLC raised its holdings in Manhattan Associates by 2.9% in the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker's stock worth $555,000 after acquiring an additional 57 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in Manhattan Associates by 2.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker's stock worth $678,000 after acquiring an additional 63 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its holdings in Manhattan Associates by 5.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,467 shares of the software maker's stock worth $396,000 after acquiring an additional 73 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Up 1.8%

MANH opened at $192.63 on Tuesday. The firm has a 50-day simple moving average of $181.53 and a two-hundred day simple moving average of $210.20. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The company has a market capitalization of $11.70 billion, a PE ratio of 54.88 and a beta of 1.08.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MANH. Citigroup decreased their price objective 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. Piper Sandler decreased their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Redburn Atlantic lowered shares of Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their target price for the company from $270.00 to $200.00 in a research note on Tuesday, June 10th. DA Davidson boosted their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, May 21st. Finally, Truist Financial boosted 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. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.

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