Erste Asset Management GmbH Has $7.05 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Erste Asset Management GmbH raised its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 24.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,765 shares of the software maker’s stock after purchasing an additional 5,140 shares during the period. Erste Asset Management GmbH’s holdings in Manhattan Associates were worth $7,049,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MANH. Whipplewood Advisors LLC bought a new stake in shares of Manhattan Associates in the 4th quarter valued at $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates in the fourth quarter valued at about $35,000. Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates in the third quarter worth about $42,000. Brooklyn Investment Group bought a new stake in shares of Manhattan Associates in the third quarter worth about $58,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates during the fourth quarter worth about $72,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on MANH. Truist Financial lowered their target price 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. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Raymond James cut their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. 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 note on Wednesday, January 29th. Finally, Citigroup reduced their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Down 1.9 %

MANH stock opened at $163.50 on Friday. The company has a market cap of $9.99 billion, a price-to-earnings ratio of 46.58 and a beta of 1.47. Manhattan Associates, Inc. has a twelve month low of $162.78 and a twelve month high of $312.60. The business has a 50 day moving average price of $219.52 and a two-hundred day moving average price of $258.82.

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.