Bradley Foster & Sargent Inc. CT purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 988 shares of the software maker’s stock, valued at approximately $244,000.
Several other large investors have also recently made changes to their positions in MANH. Private Advisor Group LLC purchased a new position in shares of Manhattan Associates in the fourth quarter worth about $270,000. Panagora Asset Management Inc. increased its stake in Manhattan Associates by 54.6% in the 4th quarter. Panagora Asset Management Inc. now owns 2,751 shares of the software maker’s stock worth $592,000 after purchasing an additional 971 shares during the period. Norges Bank bought a new stake in Manhattan Associates in the fourth quarter valued at approximately $146,984,000. Coldstream Capital Management Inc. boosted its stake in shares of Manhattan Associates by 8.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $553,000 after purchasing an additional 204 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in shares of Manhattan Associates by 1.9% in the fourth quarter. Wells Fargo & Company MN now owns 369,315 shares of the software maker’s stock worth $79,521,000 after purchasing an additional 6,754 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.
Manhattan Associates Stock Up 0.3 %
Shares of MANH opened at $275.94 on Friday. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $278.08. The stock has a market cap of $16.99 billion, a P/E ratio of 90.18 and a beta of 1.50. The business’s 50 day moving average price is $252.26 and its 200-day moving average price is $240.39.
Insiders Place Their Bets
In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.72% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts recently commented on MANH shares. Loop Capital upped their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson lifted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Citigroup increased their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $260.29.
Read Our Latest Stock Analysis on MANH
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.
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