Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 968.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 232,719 shares of the software maker’s stock after purchasing an additional 210,929 shares during the period. AustralianSuper Pty Ltd’s holdings in Manhattan Associates were worth $62,890,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Manhattan Associates during the third quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new position in shares of Manhattan Associates during the third quarter valued at approximately $42,000. Carolina Wealth Advisors LLC acquired a new position in shares of Manhattan Associates during the third quarter valued at approximately $50,000. Finally, Brooklyn Investment Group acquired a new position in shares of Manhattan Associates during the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $190.41 on Friday. Manhattan Associates, Inc. has a twelve month low of $169.94 and a twelve month high of $312.60. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 54.25 and a beta of 1.50. The firm’s 50 day moving average price is $259.20 and its two-hundred day moving average price is $268.19.

Insiders Place Their Bets

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MANH shares. Citigroup reduced their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Piper Sandler restated an “overweight” rating and set a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Raymond James reduced their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Loop Capital reduced their target price 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. Finally, Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

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.