Menard Financial Group LLC reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 9.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,421 shares of the software maker’s stock after selling 262 shares during the period. Menard Financial Group LLC’s holdings in Manhattan Associates were worth $681,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA purchased a new position in shares of Manhattan Associates in the 3rd quarter valued at $234,249,000. Fiera Capital Corp purchased a new position in shares of Manhattan Associates during the second quarter worth about $44,705,000. Squarepoint Ops LLC grew its holdings in shares of Manhattan Associates by 448.9% during the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after purchasing an additional 131,381 shares during the last quarter. FMR LLC increased its position in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Manhattan Associates by 118.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after purchasing an additional 94,283 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.
Manhattan Associates Stock Up 3.7 %
NASDAQ:MANH opened at $297.09 on Wednesday. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The firm’s fifty day simple moving average is $282.79 and its 200-day simple moving average is $258.27. The stock has a market cap of $18.15 billion, a PE ratio of 84.40 and a beta of 1.50.
Analysts Set New Price Targets
MANH has been the topic of several research analyst reports. Citigroup lifted their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price on the stock. Raymond James raised their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, DA Davidson increased their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $290.78.
Check Out Our Latest Report on MANH
Insiders Place Their Bets
In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is 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.
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