State of Alaska Department of Revenue Purchases 3,560 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

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

A number of other hedge funds and other institutional investors have also modified their holdings of MANH. Strategic Advisors LLC boosted its stake in Manhattan Associates by 116.4% in the 1st quarter. Strategic Advisors LLC now owns 3,454 shares of the software maker's stock worth $598,000 after purchasing an additional 1,858 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of Manhattan Associates by 62.1% in the first quarter. Exchange Traded Concepts LLC now owns 83,886 shares of the software maker's stock valued at $14,516,000 after purchasing an additional 32,142 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Manhattan Associates by 177.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,749 shares of the software maker's stock valued at $1,341,000 after purchasing an additional 4,957 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new stake in shares of Manhattan Associates in the first quarter worth $315,000. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Manhattan Associates in the first quarter worth $407,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Price Performance

NASDAQ:MANH traded up $1.97 during mid-day trading on Tuesday, reaching $194.64. The stock had a trading volume of 374,682 shares, compared to its average volume of 634,433. The stock has a market cap of $11.82 billion, a P/E ratio of 55.61 and a beta of 1.08. The business's 50 day moving average is $184.26 and its 200 day moving average is $206.39. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

Analyst Ratings Changes

Several research firms recently weighed in on MANH. Truist Financial upped their price target on Manhattan Associates from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 22nd. Redburn Atlantic lowered shares of 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 report on Tuesday, June 10th. Piper Sandler decreased their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating for the company in a report on Friday, March 14th. Robert W. Baird set a $212.00 price objective on shares of Manhattan Associates and gave the company an "outperform" rating in a research report on Wednesday, May 21st. Finally, DA Davidson increased their target price 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. 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.com, Manhattan Associates has a consensus 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.