Van ECK Associates Corp Has $4.65 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Van ECK Associates Corp reduced its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,197 shares of the software maker’s stock after selling 117 shares during the period. Van ECK Associates Corp’s holdings in Manhattan Associates were worth $4,647,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Manhattan Associates by 10.4% during the 3rd quarter. Creative Planning now owns 8,035 shares of the software maker’s stock worth $2,261,000 after purchasing an additional 756 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Manhattan Associates by 153.7% during the 3rd quarter. Blue Trust Inc. now owns 1,408 shares of the software maker’s stock worth $396,000 after purchasing an additional 853 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Manhattan Associates by 118.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after purchasing an additional 94,283 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Manhattan Associates during the 3rd quarter worth about $63,000. Finally, Raleigh Capital Management Inc. increased its stake in shares of Manhattan Associates by 78.9% during the 3rd quarter. Raleigh Capital Management Inc. now owns 442 shares of the software maker’s stock worth $124,000 after purchasing an additional 195 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Robert W. Baird lifted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Citigroup reduced their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Piper Sandler reaffirmed an “overweight” rating and set a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Finally, DA Davidson reduced their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $273.33.

Insider Transactions at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Trading Down 1.5 %

Shares of Manhattan Associates stock opened at $187.52 on Wednesday. The company has a 50 day moving average of $254.82 and a 200-day moving average of $267.55. Manhattan Associates, Inc. has a 1-year low of $169.94 and a 1-year high of $312.60. The company has a market cap of $11.46 billion, a PE ratio of 53.42 and a beta of 1.50.

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.