Fred Alger Management LLC Has $24.95 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Fred Alger Management LLC lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 16.7% during the fourth quarter, Holdings Channel reports. The fund owned 92,307 shares of the software maker’s stock after selling 18,454 shares during the period. Fred Alger Management LLC’s holdings in Manhattan Associates were worth $24,945,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Metis Global Partners LLC grew its stake in shares of Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock valued at $226,000 after purchasing an additional 55 shares during the last quarter. BOKF NA increased its stake in shares of Manhattan Associates by 0.4% in the 4th quarter. BOKF NA now owns 13,271 shares of the software maker’s stock valued at $3,522,000 after buying an additional 55 shares during the period. Kestra Investment Management LLC lifted its stake in shares of Manhattan Associates by 2.9% during the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock valued at $555,000 after acquiring an additional 57 shares during the period. McGlone Suttner Wealth Management Inc. raised its holdings in Manhattan Associates by 8.3% during the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after purchasing an additional 62 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. raised its holdings in Manhattan Associates by 2.6% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock worth $678,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

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

Analysts Set New Price Targets

MANH has been the subject of several analyst reports. DA Davidson lifted their price target on shares of Manhattan Associates from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Truist Financial upped their price target on Manhattan Associates from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Citigroup reduced their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Robert W. Baird lowered their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Three equities 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 an average rating of “Moderate Buy” and an average price target of $212.38.

Manhattan Associates Stock Up 1.6 %

Shares of NASDAQ:MANH opened at $186.86 on Friday. The firm has a market cap of $11.35 billion, a price-to-earnings ratio of 53.24 and a beta of 1.13. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The company’s fifty day simple moving average is $169.55 and its 200 day simple moving average is $227.39.

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.