Northern Trust Corp Acquires 159,572 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Northern Trust Corp boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 26.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 761,820 shares of the software maker's stock after purchasing an additional 159,572 shares during the quarter. Northern Trust Corp owned approximately 1.25% of Manhattan Associates worth $205,874,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Quarry LP bought a new position in Manhattan Associates in the 4th quarter worth approximately $189,000. Boothbay Fund Management LLC raised its stake in shares of Manhattan Associates by 57.5% during the fourth quarter. Boothbay Fund Management LLC now owns 1,756 shares of the software maker's stock valued at $475,000 after purchasing an additional 641 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Manhattan Associates during the 4th quarter worth about $1,216,000. Two Sigma Securities LLC increased its stake in shares of Manhattan Associates by 52.1% during the fourth quarter. Two Sigma Securities LLC now owns 1,802 shares of the software maker's stock valued at $487,000 after acquiring an additional 617 shares during the period. Finally, Nebula Research & Development LLC acquired a new position in shares of Manhattan Associates during the 4th quarter valued at $224,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MANH shares. Truist Financial raised their target price on shares of Manhattan Associates from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Raymond James decreased their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a report on Wednesday, January 29th. DA Davidson upped their target price on Manhattan Associates from $195.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Piper Sandler dropped their price target 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. Finally, Citigroup reduced their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.38.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the business'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 value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.88% of the stock is owned by company insiders.

Manhattan Associates Stock Down 0.4 %

NASDAQ:MANH traded down $0.69 during mid-day trading on Tuesday, reaching $183.30. 312,315 shares of the company were exchanged, compared to its average volume of 870,892. The stock has a market cap of $11.13 billion, a PE ratio of 52.22 and a beta of 1.36. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The company has a fifty day moving average of $168.98 and a 200 day moving average of $228.76.

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.