Sumitomo Mitsui DS Asset Management Company Ltd Has $1.74 Million Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 31.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,430 shares of the software maker’s stock after purchasing an additional 1,520 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Manhattan Associates were worth $1,738,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MANH. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Manhattan Associates by 275.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares during the last quarter. Silver Oak Securities Incorporated lifted its stake in shares of Manhattan Associates by 19.9% in the fourth quarter. Silver Oak Securities Incorporated now owns 2,695 shares of the software maker’s stock worth $731,000 after buying an additional 448 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its stake in shares of Manhattan Associates by 3.1% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 2,759 shares of the software maker’s stock worth $746,000 after buying an additional 83 shares during the last quarter. Calamos Advisors LLC boosted its holdings in shares of Manhattan Associates by 23.7% during the 4th quarter. Calamos Advisors LLC now owns 5,367 shares of the software maker’s stock worth $1,450,000 after buying an additional 1,027 shares during the period. Finally, abrdn plc grew its stake in Manhattan Associates by 2.1% in the 4th quarter. abrdn plc now owns 23,088 shares of the software maker’s stock valued at $6,250,000 after buying an additional 476 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Down 11.5 %

Shares of NASDAQ:MANH opened at $177.70 on Tuesday. The firm has a market capitalization of $10.85 billion, a PE ratio of 50.63 and a beta of 1.50. Manhattan Associates, Inc. has a 1-year low of $177.12 and a 1-year high of $312.60. The business’s 50 day moving average is $268.55 and its 200-day moving average is $270.39.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Raymond James cut their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Robert W. Baird raised their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Loop Capital reduced their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $273.33.

Insider Buying and Selling

In related news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This 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 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.