Prudential PLC Acquires 6,835 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Prudential PLC grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 40.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 23,936 shares of the software maker’s stock after acquiring an additional 6,835 shares during the period. Prudential PLC’s holdings in Manhattan Associates were worth $6,468,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MANH. Massachusetts Financial Services Co. MA raised its position in Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after purchasing an additional 841,276 shares during the last quarter. Norges Bank acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at 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 acquiring an additional 687,933 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after acquiring an additional 578,295 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after acquiring an additional 357,172 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $152.05 on Friday. The stock has a market capitalization of $9.29 billion, a PE ratio of 43.32 and a beta of 1.47. Manhattan Associates, Inc. has a 52 week low of $150.20 and a 52 week high of $312.60. The stock has a 50 day moving average price of $184.74 and a two-hundred day moving average price of $248.36.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MANH has been the subject of several analyst reports. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Truist Financial lowered their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Citigroup cut their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Raymond James lowered 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. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $243.78.

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.