Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 39.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 212,877 shares of the software maker's stock after acquiring an additional 60,379 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.35% of Manhattan Associates worth $57,528,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Manhattan Associates by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker's stock worth $1,811,299,000 after purchasing an additional 50,538 shares in the last quarter. FMR LLC raised its position in shares of Manhattan Associates by 16.2% during the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker's stock valued at $602,005,000 after acquiring an additional 310,257 shares in the last quarter. Franklin Resources Inc. lifted its stake in Manhattan Associates by 43.2% during the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker's stock worth $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Invesco Ltd. increased its stake in Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker's stock valued at $502,960,000 after purchasing an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Manhattan Associates by 101.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker's stock worth $452,321,000 after purchasing an additional 841,276 shares during the period. Institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research report on Thursday, February 13th. Loop Capital restated a "hold" rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Citigroup dropped their target price on 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, Truist Financial boosted their price target on shares of Manhattan Associates from $180.00 to $190.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Three research 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 company presently has an average rating of "Moderate Buy" and a consensus price target of $212.38.

Insider Buying and Selling

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.88% of the stock is owned by corporate insiders.

Manhattan Associates Stock Up 0.7 %

Shares of NASDAQ MANH opened at $178.63 on Friday. The firm's 50-day simple moving average is $168.75 and its 200 day simple moving average is $231.40. The stock has a market cap of $10.85 billion, a P/E ratio of 50.89 and a beta of 1.36. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

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.

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