Bessemer Group Inc. Has $95.80 Million Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Bessemer Group Inc. reduced its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 29.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 553,613 shares of the software maker’s stock after selling 227,811 shares during the period. Bessemer Group Inc.’s holdings in Manhattan Associates were worth $95,797,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MANH. Twin Tree Management LP acquired a new stake in shares of Manhattan Associates in the fourth quarter worth $25,000. Whipplewood Advisors LLC bought a new stake in Manhattan Associates in the 4th quarter valued at $34,000. Park Square Financial Group LLC bought a new stake in Manhattan Associates in the 4th quarter valued at $38,000. Transce3nd LLC acquired a new stake in Manhattan Associates in the 4th quarter worth $41,000. Finally, Central Pacific Bank Trust Division increased its holdings in shares of Manhattan Associates by 107.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock worth $34,000 after purchasing an additional 103 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MANH shares. Citigroup lowered their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Piper Sandler reduced their price target 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. Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday, April 10th. Robert W. Baird set a $212.00 price target on Manhattan Associates and gave the stock an “outperform” rating in a research report on Wednesday, May 21st. Finally, Redburn Atlantic cut shares of Manhattan Associates from a “buy” rating to a “neutral” rating and reduced their price target for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $208.88.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $191.48 on Thursday. The stock’s 50 day moving average price is $185.47 and its two-hundred day moving average price is $206.21. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 54.71 and a beta of 1.08.

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.