Price T Rowe Associates Inc. MD Raises Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Price T Rowe Associates Inc. MD grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 513,293 shares of the software maker's stock after purchasing an additional 73,546 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.84% of Manhattan Associates worth $138,714,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SkyView Investment Advisors LLC grew its stake in shares of Manhattan Associates by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 5,120 shares of the software maker's stock worth $1,441,000 after acquiring an additional 102 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Manhattan Associates during the 3rd quarter valued at approximately $502,000. Optimist Retirement Group LLC lifted its stake in shares of Manhattan Associates by 9.0% during the third quarter. Optimist Retirement Group LLC now owns 916 shares of the software maker's stock worth $258,000 after buying an additional 76 shares during the period. JPMorgan Chase & Co. increased its position in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock valued at $284,169,000 after acquiring an additional 687,933 shares during the period. Finally, GAMMA Investing LLC raised its stake in Manhattan Associates by 40.1% in the 4th quarter. GAMMA Investing LLC now owns 1,662 shares of the software maker's stock worth $449,000 after acquiring an additional 476 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded up $1.14 during midday trading on Wednesday, reaching $177.39. 658,569 shares of the company's stock traded hands, compared to its average volume of 572,916. The company has a market cap of $10.77 billion, a P/E ratio of 50.54 and a beta of 1.36. The company has a fifty day simple moving average of $168.82 and a two-hundred day simple moving average of $232.65. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Robert W. Baird reduced their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating for the company in a report on Tuesday, March 18th. Truist Financial upped 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. William Blair upgraded Manhattan Associates from a "market perform" rating to an "outperform" rating in a research note on Thursday, February 13th. Finally, Raymond James lowered their target price on Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $212.38.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the business's stock in a transaction that occurred 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 $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

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.