Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 16.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,649 shares of the software maker's stock after acquiring an additional 3,560 shares during the quarter. State of Alaska Department of Revenue's holdings in Manhattan Associates were worth $4,264,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MANH. Vanguard Group Inc. lifted its stake in shares of Manhattan Associates by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock valued at $1,811,299,000 after purchasing an additional 50,538 shares during the last quarter. FMR LLC lifted its holdings 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 acquiring an additional 310,257 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after acquiring an additional 578,295 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Manhattan Associates by 3.1% in the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock worth $502,960,000 after acquiring an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after acquiring an additional 841,276 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Redburn Atlantic cut Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $270.00 to $200.00 in a research note on Tuesday, June 10th. Piper Sandler decreased their target price on Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a research note on Friday, March 14th. Robert W. Baird set a $212.00 target price on Manhattan Associates and gave the stock an "outperform" rating in a research note on Wednesday, May 21st. DA Davidson increased their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 21st. Finally, 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 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 company's stock. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.88.

Manhattan Associates Stock Performance

MANH stock traded down $2.21 during midday trading on Friday, reaching $186.29. 1,065,766 shares of the company were exchanged, compared to its average volume of 635,008. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The stock's 50-day simple moving average is $183.65 and its 200 day simple moving average is $207.83. The company has a market cap of $11.31 billion, a price-to-earnings ratio of 52.04 and a beta of 1.08.

Manhattan Associates 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.