Kestra Investment Management LLC Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Kestra Investment Management LLC grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,055 shares of the software maker’s stock after buying an additional 57 shares during the quarter. Kestra Investment Management LLC’s holdings in Manhattan Associates were worth $555,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MANH. Capital Performance Advisors LLP purchased a new stake in shares of Manhattan Associates during the third quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $35,000. Ashton Thomas Securities LLC bought a new position in shares of Manhattan Associates during the third quarter valued at approximately $42,000. Brooklyn Investment Group bought a new position in shares of Manhattan Associates during the third quarter valued at approximately $58,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Manhattan Associates during the third quarter valued at approximately $63,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 1.5 %

MANH opened at $187.52 on Wednesday. Manhattan Associates, Inc. has a 12-month low of $169.94 and a 12-month high of $312.60. The company has a market cap of $11.46 billion, a price-to-earnings ratio of 53.42 and a beta of 1.50. The stock has a fifty day simple moving average of $254.82 and a two-hundred day simple moving average of $267.55.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value 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 represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

MANH has been the subject of a number of recent analyst reports. Citigroup decreased their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. DA Davidson decreased 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. Robert W. Baird upped their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Piper Sandler restated an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Finally, William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

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.