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

Truist Financial Corp lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,519 shares of the software maker’s stock after purchasing an additional 856 shares during the quarter. Truist Financial Corp owned 0.05% of Manhattan Associates worth $9,058,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in shares of Manhattan Associates by 5.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,895 shares of the software maker’s stock worth $512,000 after purchasing an additional 97 shares in the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in Manhattan Associates by 49.9% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 1,793 shares of the software maker’s stock valued at $485,000 after acquiring an additional 597 shares during the period. Rhumbline Advisers boosted its holdings in Manhattan Associates by 0.7% during the 4th quarter. Rhumbline Advisers now owns 201,979 shares of the software maker’s stock valued at $54,583,000 after acquiring an additional 1,388 shares during the period. AustralianSuper Pty Ltd boosted its holdings in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after acquiring an additional 210,929 shares during the period. Finally, Moloney Securities Asset Management LLC purchased a new stake in Manhattan Associates during the 4th quarter valued at about $257,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

MANH opened at $182.51 on Friday. The business has a 50 day simple moving average of $247.68 and a two-hundred day simple moving average of $266.01. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 52.00 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $169.94 and a one year high of $312.60.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MANH. DA Davidson dropped their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Raymond James dropped their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Citigroup dropped their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Finally, William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Insider Transactions at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

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.