Dock Street Asset Management Inc. Buys 4,137 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Dock Street Asset Management Inc. raised its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,031 shares of the software maker’s stock after purchasing an additional 4,137 shares during the period. Manhattan Associates accounts for 2.3% of Dock Street Asset Management Inc.’s holdings, making the stock its 16th biggest holding. Dock Street Asset Management Inc.’s holdings in Manhattan Associates were worth $19,466,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MANH. Cetera Investment Advisers increased its position in Manhattan Associates by 9.0% in the 2nd quarter. Cetera Investment Advisers now owns 4,240 shares of the software maker’s stock valued at $1,046,000 after buying an additional 349 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Manhattan Associates in the second quarter valued at approximately $1,395,000. GAMMA Investing LLC increased its holdings in shares of Manhattan Associates by 47.5% during the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after acquiring an additional 382 shares in the last quarter. Atomi Financial Group Inc. raised its position in shares of Manhattan Associates by 8.3% during the third quarter. Atomi Financial Group Inc. now owns 1,014 shares of the software maker’s stock worth $285,000 after purchasing an additional 78 shares during the period. Finally, CWM LLC lifted its holdings in shares of Manhattan Associates by 44.5% in the 3rd quarter. CWM LLC now owns 3,648 shares of the software maker’s stock worth $1,026,000 after purchasing an additional 1,124 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Down 1.3 %

Shares of NASDAQ MANH opened at $198.07 on Friday. The company has a market capitalization of $12.10 billion, a PE ratio of 56.43 and a beta of 1.50. The stock’s 50 day moving average price is $272.42 and its 200-day moving average price is $270.59. Manhattan Associates, Inc. has a twelve month low of $196.04 and a twelve month high of $312.60.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction 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 approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated 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 in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

MANH has been the subject of a number of recent research reports. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. DA Davidson decreased their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Loop Capital dropped their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Citigroup decreased their price objective 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, Raymond James dropped their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

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.