Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Lbp Am Sa

Lbp Am Sa lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 74.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,911 shares of the software maker’s stock after purchasing an additional 7,241 shares during the period. Lbp Am Sa’s holdings in Manhattan Associates were worth $4,570,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its stake in Manhattan Associates by 23.7% in the 4th quarter. Commonwealth Equity Services LLC now owns 972 shares of the software maker’s stock valued at $263,000 after acquiring an additional 186 shares during the last quarter. Impact Capital Partners LLC acquired a new stake in Manhattan Associates in the 4th quarter valued at about $759,000. Skandinaviska Enskilda Banken AB publ grew its stake in Manhattan Associates by 3.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 438,760 shares of the software maker’s stock valued at $118,974,000 after acquiring an additional 15,851 shares during the last quarter. Erste Asset Management GmbH grew its stake in Manhattan Associates by 24.9% in the 4th quarter. Erste Asset Management GmbH now owns 25,765 shares of the software maker’s stock valued at $7,049,000 after acquiring an additional 5,140 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in Manhattan Associates by 42.3% in the 4th quarter. Jupiter Asset Management Ltd. now owns 164,559 shares of the software maker’s stock valued at $44,470,000 after acquiring an additional 48,927 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MANH shares. Piper Sandler lowered their price objective on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday. Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Raymond James reduced their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, Citigroup reduced their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $252.56.

Insider Transactions at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH stock opened at $172.50 on Friday. The firm has a market cap of $10.54 billion, a P/E ratio of 49.15 and a beta of 1.47. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60. The firm’s 50-day simple moving average is $217.41 and its 200-day simple moving average is $258.16.

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.