Marshall Wace LLP Purchases New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Marshall Wace LLP bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,019 shares of the software maker’s stock, valued at approximately $816,000.

Several other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in shares of Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after buying an additional 841,276 shares in the last quarter. Norges Bank bought a new stake in shares of Manhattan Associates in the fourth quarter worth about $201,377,000. JPMorgan Chase & Co. raised its position in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after purchasing an additional 578,295 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of 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 valued at $131,539,000 after purchasing an additional 357,172 shares during the period. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Truist Financial lifted their price target on shares of Manhattan Associates from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. DA Davidson boosted their price target on Manhattan Associates from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Loop Capital reiterated a “hold” rating and set a $170.00 price objective (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Finally, Citigroup dropped their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $212.38.

Manhattan Associates Stock Up 0.6 %

Shares of Manhattan Associates stock opened at $177.39 on Thursday. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The business’s 50 day moving average is $168.72 and its 200-day moving average is $232.27. The stock has a market cap of $10.77 billion, a P/E ratio of 50.54 and a beta of 1.36.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

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.