Franklin Resources Inc. Purchases 578,295 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Franklin Resources Inc. grew its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 43.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,916,509 shares of the software maker’s stock after buying an additional 578,295 shares during the quarter. Franklin Resources Inc. owned 3.14% of Manhattan Associates worth $517,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Twin Tree Management LP purchased a new position in Manhattan Associates in the fourth quarter worth $25,000. Whipplewood Advisors LLC bought a new stake in shares of Manhattan Associates during the 4th quarter worth $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates in the 4th quarter worth about $35,000. Bank of Jackson Hole Trust bought a new position in Manhattan Associates during the fourth quarter valued at about $72,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Manhattan Associates by 144.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock worth $83,000 after buying an additional 182 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $173.04 on Tuesday. The business’s fifty day moving average is $194.16 and its 200 day moving average is $250.92. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 49.30 and a beta of 1.47. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of research reports. Loop Capital reduced their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Piper Sandler dropped their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Robert W. Baird decreased their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, Truist Financial decreased their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.78.

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.