Ethic Inc. Grows Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Ethic Inc. increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,889 shares of the software maker’s stock after purchasing an additional 190 shares during the period. Ethic Inc.’s holdings in Manhattan Associates were worth $781,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of MANH. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Manhattan Associates during the 4th quarter worth about $3,890,000. GDS Wealth Management lifted its stake in Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after purchasing an additional 4,683 shares during the last quarter. Oak Thistle LLC acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $1,326,000. AustralianSuper Pty Ltd boosted its holdings in Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after purchasing an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Manhattan Associates in the fourth quarter valued at approximately $1,200,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.88% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MANH. Truist Financial boosted their price objective on shares of Manhattan Associates from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. DA Davidson boosted their price target on shares of Manhattan Associates from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Robert W. Baird decreased 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 note on Tuesday, March 18th. Piper Sandler cut their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Finally, Citigroup decreased their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $205.57.

Manhattan Associates Stock Down 0.7%

NASDAQ MANH opened at $194.20 on Thursday. The firm has a market cap of $11.79 billion, a P/E ratio of 55.33 and a beta of 1.13. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The business’s 50-day moving average price is $171.28 and its 200 day moving average price is $225.03.

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.