Russell Investments Group Ltd. Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Russell Investments Group Ltd. increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,852 shares of the software maker's stock after acquiring an additional 4,986 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of Manhattan Associates worth $12,923,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MANH. FMR LLC boosted its stake in shares of Manhattan Associates by 2.1% in the third quarter. FMR LLC now owns 1,628,850 shares of the software maker's stock worth $321,958,000 after acquiring an additional 33,549 shares during the last quarter. Morgan Stanley boosted its stake in Manhattan Associates by 0.9% during the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker's stock worth $300,927,000 after purchasing an additional 13,303 shares during the last quarter. Northern Trust Corp raised its position in shares of Manhattan Associates by 10.5% in the third quarter. Northern Trust Corp now owns 645,187 shares of the software maker's stock valued at $127,528,000 after buying an additional 61,437 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Manhattan Associates by 19.3% in the third quarter. Los Angeles Capital Management LLC now owns 367,066 shares of the software maker's stock valued at $72,554,000 after buying an additional 59,366 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Manhattan Associates by 2.5% in the fourth quarter. California Public Employees Retirement System now owns 361,476 shares of the software maker's stock worth $77,833,000 after buying an additional 8,811 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Eddie Capel sold 10,897 shares of the business's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Eddie Capel sold 10,897 shares of the business's stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company's stock, valued at approximately $59,988,562.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the business's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares of the company's stock, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Rosenblatt Securities reiterated a "neutral" rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. William Blair restated a "market perform" rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Truist Financial boosted their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Wednesday, January 31st. Citigroup cut their price objective on shares of Manhattan Associates from $260.00 to $220.00 and set a "neutral" rating for the company in a research report on Wednesday, April 24th. Finally, Raymond James boosted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $234.86.

Manhattan Associates Price Performance

Shares of MANH stock traded up $1.92 during trading hours on Friday, hitting $210.76. The company had a trading volume of 331,805 shares, compared to its average volume of 467,394. Manhattan Associates, Inc. has a fifty-two week low of $166.82 and a fifty-two week high of $266.94. The company's fifty day moving average is $240.00 and its 200 day moving average is $227.03. The stock has a market capitalization of $12.98 billion, a PE ratio of 68.88 and a beta of 1.45.

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.