NewEdge Wealth LLC Has $2.69 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

NewEdge Wealth LLC cut its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 12.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,966 shares of the software maker’s stock after selling 1,391 shares during the period. NewEdge Wealth LLC’s holdings in Manhattan Associates were worth $2,693,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MANH. Private Advisor Group LLC grew its stake in shares of Manhattan Associates by 8.9% in the 3rd quarter. Private Advisor Group LLC now owns 1,376 shares of the software maker’s stock valued at $387,000 after buying an additional 113 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of Manhattan Associates by 21.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,535 shares of the software maker’s stock valued at $713,000 after buying an additional 455 shares during the period. Nisa Investment Advisors LLC boosted its stake in Manhattan Associates by 112.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 17,907 shares of the software maker’s stock valued at $5,039,000 after purchasing an additional 9,468 shares during the last quarter. First Trust Direct Indexing L.P. boosted its stake in Manhattan Associates by 30.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,786 shares of the software maker’s stock valued at $784,000 after purchasing an additional 649 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in Manhattan Associates by 54.6% during the 3rd quarter. AustralianSuper Pty Ltd now owns 21,790 shares of the software maker’s stock valued at $6,131,000 after purchasing an additional 7,699 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 1.0 %

Manhattan Associates stock opened at $176.88 on Friday. Manhattan Associates, Inc. has a 52 week low of $169.94 and a 52 week high of $312.60. The company’s 50 day moving average price is $236.56 and its two-hundred day moving average price is $263.66. The stock has a market cap of $10.81 billion, a P/E ratio of 50.39 and a beta of 1.50.

Analysts Set New Price Targets

MANH has been the subject of a number of analyst reports. Piper Sandler reiterated an “overweight” rating and set a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. DA Davidson cut their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Raymond James cut their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Loop Capital cut their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note 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 for the company in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates 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.