Marshall Wace LLP Makes New $816,000 Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Marshall Wace LLP purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,019 shares of the software maker's stock, valued at approximately $816,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Manhattan Associates in the 4th quarter worth $3,890,000. GDS Wealth Management lifted its stake in Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker's stock worth $1,715,000 after acquiring an additional 4,683 shares during the period. Oak Thistle LLC bought a new position in Manhattan Associates during the 4th quarter worth about $1,326,000. AustralianSuper Pty Ltd increased its position in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker's stock valued at $62,890,000 after purchasing an additional 210,929 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $1,200,000. Institutional investors own 98.45% of the company's stock.

Manhattan Associates Stock Down 0.2 %

Shares of Manhattan Associates stock traded down $0.31 during midday trading on Tuesday, hitting $183.68. The company had a trading volume of 52,021 shares, compared to its average volume of 867,998. The company has a fifty day simple moving average of $168.98 and a 200 day simple moving average of $228.76. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 52.33 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.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Piper Sandler lowered their target price on 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 dropped their price objective on Manhattan Associates from $282.00 to $225.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. DA Davidson boosted their target price on shares of Manhattan Associates from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. StockNews.com cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an "outperform" rating for the company in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently 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 on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company's stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.88% of the stock is currently owned by company insiders.

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.