Handelsbanken Fonder AB Acquires 500 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Handelsbanken Fonder AB boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,888 shares of the software maker’s stock after acquiring an additional 500 shares during the period. Handelsbanken Fonder AB’s holdings in Manhattan Associates were worth $4,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MANH. Capital Performance Advisors LLP bought a new position in Manhattan Associates during the third quarter worth about $34,000. Synergy Asset Management LLC bought a new position in Manhattan Associates during the fourth quarter worth about $35,000. Ashton Thomas Securities LLC bought a new position in Manhattan Associates during the third quarter worth about $42,000. Brooklyn Investment Group bought a new position in Manhattan Associates during the third quarter worth about $58,000. Finally, Bank of Jackson Hole Trust bought a new position in Manhattan Associates during the fourth quarter worth about $72,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MANH shares. Piper Sandler restated an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Raymond James cut 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. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Loop Capital cut their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Finally, Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $182.51 on Monday. The stock’s 50-day simple moving average is $247.68 and its 200 day simple moving average is $266.37. The company has a market cap of $11.16 billion, a P/E ratio of 52.00 and a beta of 1.50. Manhattan Associates, Inc. has a 52-week low of $169.94 and a 52-week high of $312.60.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.