42,922 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Bought by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 42,922 shares of the software maker's stock, valued at approximately $11,599,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.07% of Manhattan Associates at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Twin Tree Management LP acquired a new stake in shares of Manhattan Associates during the 4th quarter worth about $25,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates during the fourth quarter worth approximately $35,000. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $34,000. Transce3nd LLC acquired a new position in Manhattan Associates in the 4th quarter valued at $41,000. Finally, Bank of Jackson Hole Trust acquired a new position in Manhattan Associates in the fourth quarter valued at $72,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Up 1.1%

Shares of MANH traded up $1.98 during mid-day trading on Wednesday, reaching $188.96. 299,570 shares of the stock traded hands, compared to its average volume of 617,414. The stock has a fifty day simple moving average of $176.00 and a 200 day simple moving average of $216.25. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The firm has a market cap of $11.47 billion, a price-to-earnings ratio of 53.83 and a beta of 1.13.

Insider Buying and Selling

In other news, CFO Dennis B. Story sold 2,788 shares of the firm's 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 sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.88% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

MANH has been the topic of several research analyst reports. William Blair raised shares of Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Truist Financial raised their price objective on Manhattan Associates from $190.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 22nd. Piper Sandler cut their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an "overweight" rating on the stock in a report on Friday, March 14th. Citigroup reduced 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 report on Friday, March 14th. Finally, DA Davidson increased their price objective 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. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average price target of $210.14.

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.