Montanaro Asset Management Ltd Acquires 50,340 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Montanaro Asset Management Ltd raised its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 189.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 76,940 shares of the software maker’s stock after buying an additional 50,340 shares during the period. Manhattan Associates comprises approximately 4.3% of Montanaro Asset Management Ltd’s investment portfolio, making the stock its 5th biggest holding. Montanaro Asset Management Ltd’s holdings in Manhattan Associates were worth $20,792,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Twin Tree Management LP purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at about $25,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates in the 4th quarter worth about $35,000. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates in the 4th quarter valued at about $34,000. Brooklyn Investment Group bought a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $58,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates in the 4th quarter worth approximately $72,000. 98.45% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was 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 in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MANH. Loop Capital decreased their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial decreased their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Raymond James cut their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. DA Davidson upgraded shares of Manhattan Associates to a “strong-buy” rating in a report on Monday. Finally, Robert W. Baird dropped their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Trading Down 2.2 %

Shares of MANH stock opened at $175.62 on Thursday. The firm’s 50 day moving average is $200.18 and its 200 day moving average is $252.84. The stock has a market capitalization of $10.73 billion, a P/E ratio of 50.03 and a beta of 1.47. Manhattan Associates, Inc. has a 12 month low of $163.10 and a 12 month high of $312.60.

Manhattan Associates Company 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.