Mediolanum International Funds Ltd Acquires 11,765 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Mediolanum International Funds Ltd grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 58.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 31,807 shares of the software maker’s stock after acquiring an additional 11,765 shares during the period. Mediolanum International Funds Ltd’s holdings in Manhattan Associates were worth $8,603,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its position in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC raised its position in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after acquiring an additional 130,817 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after acquiring an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new stake in Manhattan Associates in the third quarter valued at approximately $234,249,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MANH. Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Citigroup dropped their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. DA Davidson dropped their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, 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 note on Wednesday. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $208.59 on Friday. The business has a 50-day simple moving average of $279.60 and a 200 day simple moving average of $271.32. Manhattan Associates, Inc. has a one year low of $205.12 and a one year high of $312.60. The firm has a market capitalization of $12.74 billion, a price-to-earnings ratio of 59.43 and a beta of 1.52.

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.