Pallas Capital Advisors LLC Acquires New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Pallas Capital Advisors LLC bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,094 shares of the software maker’s stock, valued at approximately $708,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of Manhattan Associates by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after acquiring an additional 841,276 shares in the last quarter. Norges Bank purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $201,377,000. Franklin Resources Inc. lifted its position in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after acquiring an additional 578,295 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Manhattan Associates by 2,075.5% in the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock valued at $107,842,000 after acquiring an additional 380,722 shares in the last quarter. Finally, FMR LLC lifted its position in Manhattan Associates by 16.2% in the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after buying an additional 310,257 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Down 2.0%

Shares of MANH stock opened at $189.33 on Thursday. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The company has a market capitalization of $11.50 billion, a P/E ratio of 53.94 and a beta of 1.08. The firm has a 50-day moving average price of $178.72 and a 200 day moving average price of $213.27.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. DA Davidson increased their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Truist Financial raised their price target on shares of Manhattan Associates from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 22nd. Robert W. Baird set a $212.00 price target on shares of Manhattan Associates and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Finally, Loop Capital reaffirmed 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. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $208.88.

About Manhattan Associates

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.