Renaissance Technologies LLC Grows Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Renaissance Technologies LLC increased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 559,560 shares of the software maker’s stock after purchasing an additional 16,800 shares during the quarter. Renaissance Technologies LLC owned 0.92% of Manhattan Associates worth $151,215,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its holdings in Manhattan Associates by 101.1% in 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 acquiring an additional 841,276 shares in the last quarter. Norges Bank acquired a new position in shares of Manhattan Associates during the 4th quarter worth about $201,377,000. JPMorgan Chase & Co. lifted its stake in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after buying an additional 578,295 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In related 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 value of $476,274.04. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Down 3.7 %

Shares of NASDAQ:MANH opened at $146.40 on Tuesday. The company has a market cap of $8.95 billion, a P/E ratio of 41.71 and a beta of 1.36. The company has a 50-day moving average price of $181.91 and a 200 day moving average price of $247.14. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

Analyst Ratings Changes

Several equities research analysts recently commented on MANH shares. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a report on Monday, March 24th. Loop Capital cut their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Robert W. Baird decreased their price objective on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. Piper Sandler reduced 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, Raymond James decreased their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

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.