745,179 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Acquired by Norges Bank

Norges Bank purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 745,179 shares of the software maker’s stock, valued at approximately $201,377,000.

Several other hedge funds have also recently bought and sold shares of MANH. Twin Tree Management LP bought a new stake in shares of Manhattan Associates in the 4th quarter worth about $25,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates during the fourth quarter worth about $35,000. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $34,000. Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Manhattan Associates by 144.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock worth $83,000 after acquiring an additional 182 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MANH has been the subject of a number of recent analyst reports. Citigroup dropped their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Robert W. Baird lowered their price objective 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, March 18th. Finally, Piper Sandler reduced their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.78.

Manhattan Associates Trading Down 0.8 %

Shares of NASDAQ MANH opened at $173.48 on Monday. Manhattan Associates, Inc. has a 1 year low of $163.10 and a 1 year high of $312.60. The firm’s 50-day moving average is $196.17 and its 200-day moving average is $251.56. The firm has a market capitalization of $10.60 billion, a PE ratio of 49.42 and a beta of 1.47.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

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.