Manhattan Associates, Inc. (NASDAQ:MANH) Stock Position Lifted by Greenleaf Trust

Greenleaf Trust boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 145.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,967 shares of the software maker’s stock after buying an additional 1,166 shares during the quarter. Greenleaf Trust’s holdings in Manhattan Associates were worth $532,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. bought a new position in Manhattan Associates during the fourth quarter valued at approximately $3,890,000. Oak Thistle LLC bought a new position in shares of Manhattan Associates during the 4th quarter valued at $1,326,000. GAMMA Investing LLC lifted its stake in shares of Manhattan Associates by 47.5% in the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after purchasing an additional 382 shares during the last quarter. Smith Group Asset Management LLC boosted its holdings in Manhattan Associates by 1.8% in the fourth quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock worth $25,195,000 after purchasing an additional 1,641 shares in the last quarter. Finally, Mediolanum International Funds Ltd increased its position in Manhattan Associates by 602.0% during the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after buying an additional 17,187 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Shares of MANH opened at $196.51 on Wednesday. The company has a 50-day simple moving average of $275.95 and a 200-day simple moving average of $271.59. Manhattan Associates, Inc. has a 52 week low of $196.04 and a 52 week high of $312.60. The firm has a market capitalization of $12.00 billion, a P/E ratio of 55.99 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MANH. Citigroup reduced their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Piper Sandler reaffirmed 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. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. DA Davidson lowered their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Truist Financial dropped their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Insider Activity at Manhattan Associates

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 Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.