Amalgamated Bank Raises Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Amalgamated Bank boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,273 shares of the software maker’s stock after buying an additional 223 shares during the quarter. Amalgamated Bank’s holdings in Manhattan Associates were worth $8,181,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of Manhattan Associates in the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new position in Manhattan Associates during the third quarter worth $42,000. Brooklyn Investment Group purchased a new position in shares of Manhattan Associates during the third quarter worth $58,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at $72,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm’s 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 sale, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Down 0.3 %

Shares of Manhattan Associates stock opened at $177.61 on Thursday. Manhattan Associates, Inc. has a 52-week low of $169.94 and a 52-week high of $312.60. The company has a market capitalization of $10.86 billion, a P/E ratio of 50.60 and a beta of 1.50. The company has a 50 day moving average of $240.78 and a 200 day moving average of $264.77.

Analyst Upgrades and Downgrades

MANH has been the topic of several research reports. Truist Financial decreased their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James dropped their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Citigroup cut their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average 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.