Shell Asset Management Co. Has $1.27 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Shell Asset Management Co. grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 197.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,696 shares of the software maker's stock after purchasing an additional 3,118 shares during the quarter. Shell Asset Management Co.'s holdings in Manhattan Associates were worth $1,269,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Twin Tree Management LP acquired a new position in Manhattan Associates during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new stake in Manhattan Associates in the fourth quarter worth $34,000. Synergy Asset Management LLC bought a new position in shares of Manhattan Associates during the fourth quarter worth $35,000. Transce3nd LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at $41,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Manhattan Associates in the 4th quarter valued at $72,000. 98.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the firm'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 of the company's stock, valued at $17,298,758.29. This trade represents a 2.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.88% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Truist Financial raised their price objective on Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday. William Blair raised Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Citigroup decreased their price objective on Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Piper Sandler lowered their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a research note on Friday, March 14th. Finally, Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the company an "outperform" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $210.14.

Manhattan Associates Stock Down 1.5%

Shares of NASDAQ:MANH traded down $2.86 during mid-day trading on Friday, reaching $184.64. 179,134 shares of the stock were exchanged, compared to its average volume of 585,694. The company has a market cap of $11.21 billion, a P/E ratio of 52.62 and a beta of 1.13. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60. The stock's 50 day simple moving average is $174.01 and its 200-day simple moving average is $221.82.

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.