Envestnet Portfolio Solutions Inc. Purchases 581 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Envestnet Portfolio Solutions Inc. grew its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 9.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,848 shares of the software maker’s stock after purchasing an additional 581 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Manhattan Associates were worth $1,851,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Midwest Professional Planners LTD. bought a new position in Manhattan Associates during the 4th quarter worth approximately $749,000. LBP AM SA grew its position in shares of Manhattan Associates by 74.9% during the 4th quarter. LBP AM SA now owns 16,911 shares of the software maker’s stock worth $4,570,000 after buying an additional 7,241 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Manhattan Associates by 23.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 972 shares of the software maker’s stock worth $263,000 after buying an additional 186 shares during the period. Impact Capital Partners LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $759,000. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Manhattan Associates by 3.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 438,760 shares of the software maker’s stock worth $118,974,000 after buying an additional 15,851 shares during the period. Institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. DA Davidson reduced their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Citigroup reduced their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Finally, Robert W. Baird reduced their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction on 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 of the company’s stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

MANH opened at $172.44 on Friday. The company has a market capitalization of $10.54 billion, a price-to-earnings ratio of 49.13 and a beta of 1.47. The firm’s fifty day moving average price is $207.62 and its two-hundred day moving average price is $255.09. Manhattan Associates, Inc. has a 1 year low of $163.10 and a 1 year high of $312.60.

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.