Daiwa Securities Group Inc. Purchases 200 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Daiwa Securities Group Inc. boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,804 shares of the software maker’s stock after purchasing an additional 200 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Manhattan Associates were worth $1,568,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MANH. Massachusetts Financial Services Co. MA acquired a new stake in Manhattan Associates in the 3rd quarter worth about $234,249,000. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Manhattan Associates by 275.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares during the period. Swedbank AB boosted its stake in shares of Manhattan Associates by 1,840.3% in the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after buying an additional 350,000 shares during the period. Finally, AustralianSuper Pty Ltd grew its position in Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after buying an additional 210,929 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Loop Capital dropped their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. DA Davidson dropped their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Citigroup reduced their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Finally, Truist Financial cut their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Three 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, the company has a consensus rating of “Moderate Buy” and an average price target of $252.56.

Insider Activity at Manhattan Associates

In other 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 completion of the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by insiders.

Manhattan Associates Trading Up 5.5 %

MANH opened at $172.50 on Friday. The company has a market cap of $10.54 billion, a P/E ratio of 49.15 and a beta of 1.47. The company’s 50 day moving average is $217.41 and its 200-day moving average is $258.16. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60.

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.