Vanguard Group Inc. Acquires 50,538 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Vanguard Group Inc. lifted its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,702,557 shares of the software maker’s stock after purchasing an additional 50,538 shares during the period. Vanguard Group Inc. owned approximately 0.11% of Manhattan Associates worth $1,811,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new position in Manhattan Associates during the fourth quarter worth about $25,000. Synergy Asset Management LLC bought a new position in shares of Manhattan Associates during the 4th quarter valued at $35,000. Whipplewood Advisors LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at about $34,000. Brooklyn Investment Group bought a new position in Manhattan Associates during the 3rd quarter worth approximately $58,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates in the fourth quarter worth $72,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $175.62 on Thursday. The stock has a market capitalization of $10.73 billion, a PE ratio of 50.03 and a beta of 1.47. The company’s fifty day simple moving average is $200.18 and its 200-day simple moving average is $252.84. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60.

Insiders Place Their Bets

In related 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 owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MANH shares. Raymond James reduced their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Piper Sandler decreased their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Loop Capital reduced their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Citigroup decreased their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, DA Davidson upgraded Manhattan Associates to a “strong-buy” rating in a research note on Monday. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $243.78.

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.