Nations Financial Group Inc. IA ADV Buys 597 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Nations Financial Group Inc. IA ADV grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 49.9% in the fourth quarter, Holdings Channel reports. The fund owned 1,793 shares of the software maker’s stock after acquiring an additional 597 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Manhattan Associates were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Rhumbline Advisers grew its holdings in Manhattan Associates by 0.7% during the fourth quarter. Rhumbline Advisers now owns 201,979 shares of the software maker’s stock valued at $54,583,000 after purchasing an additional 1,388 shares during the period. AustralianSuper Pty Ltd increased its holdings in Manhattan Associates by 968.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after acquiring an additional 210,929 shares during the last quarter. Moloney Securities Asset Management LLC bought a new stake in Manhattan Associates in the 4th quarter valued at about $257,000. Dock Street Asset Management Inc. lifted its holdings in Manhattan Associates by 6.1% during the fourth quarter. Dock Street Asset Management Inc. now owns 72,031 shares of the software maker’s stock valued at $19,466,000 after purchasing an additional 4,137 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Manhattan Associates by 31.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,430 shares of the software maker’s stock worth $1,738,000 after purchasing an additional 1,520 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH opened at $190.41 on Tuesday. Manhattan Associates, Inc. has a 1-year low of $169.94 and a 1-year high of $312.60. The company has a market capitalization of $11.63 billion, a P/E ratio of 54.25 and a beta of 1.50. The firm’s 50 day simple moving average is $257.02 and its 200 day simple moving average is $267.95.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MANH shares. Loop Capital cut their price objective 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. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. DA Davidson reduced their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a research note 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $273.33.

Insider Activity

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

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.