Truist Financial Corp Boosts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Truist Financial Corp increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,519 shares of the software maker’s stock after buying an additional 856 shares during the period. Truist Financial Corp’s holdings in Manhattan Associates were worth $9,058,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MANH. Creative Planning grew its stake in shares of Manhattan Associates by 10.4% in the 3rd quarter. Creative Planning now owns 8,035 shares of the software maker’s stock worth $2,261,000 after buying an additional 756 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Manhattan Associates in the 3rd quarter worth approximately $63,000. Sequoia Financial Advisors LLC purchased a new stake in Manhattan Associates during the 3rd quarter valued at $211,000. Private Advisor Group LLC boosted its stake in Manhattan Associates by 8.9% during the 3rd quarter. Private Advisor Group LLC now owns 1,376 shares of the software maker’s stock valued at $387,000 after purchasing an additional 113 shares during the last quarter. Finally, Greenleaf Trust purchased a new stake in Manhattan Associates during the 3rd quarter valued at $225,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

MANH stock opened at $182.51 on Friday. 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 1 year low of $169.94 and a 1 year high of $312.60. The stock’s fifty day moving average price is $247.68 and its 200-day moving average price is $266.01.

Wall Street Analyst Weigh In

Several analysts have commented on MANH shares. Loop Capital cut their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Raymond James cut their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler reiterated an “overweight” rating and set a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. DA Davidson cut their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Truist Financial cut 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. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 3,475 shares of the firm’s 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 transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were 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 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. 0.72% of the stock is owned by insiders.

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.