Siemens Fonds Invest GmbH Acquires New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Siemens Fonds Invest GmbH purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,404 shares of the software maker's stock, valued at approximately $379,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. bought a new position in Manhattan Associates in the 4th quarter valued at $3,890,000. GDS Wealth Management lifted its position in shares of Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock worth $1,715,000 after purchasing an additional 4,683 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock valued at $62,890,000 after purchasing an additional 210,929 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $1,200,000. Finally, Smith Group Asset Management LLC increased its holdings in shares of Manhattan Associates by 1.8% in the fourth quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker's stock valued at $25,195,000 after purchasing an additional 1,641 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock traded down $2.92 during trading on Friday, hitting $184.57. The company's stock had a trading volume of 192,903 shares, compared to its average volume of 585,760. The stock has a market cap of $11.21 billion, a price-to-earnings ratio of 52.45 and a beta of 1.13. The stock has a 50-day moving average price of $174.01 and a two-hundred day moving average price of $221.82. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

Analyst Upgrades and Downgrades

MANH has been the subject of several research reports. Loop Capital reissued a "hold" rating and issued a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Truist Financial raised their target price on shares of Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday. 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. Citigroup cut their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Finally, DA Davidson lifted their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a "buy" 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $210.14.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction dated Thursday, March 6th. The stock was 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 owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company's stock.

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.