R Squared Ltd Acquires Shares of 810 Manhattan Associates, Inc. (NASDAQ:MANH)

R Squared Ltd bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 810 shares of the software maker’s stock, valued at approximately $219,000.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MANH shares. Piper Sandler initiated coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Citigroup cut their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, DA Davidson upped their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.56.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the business’s 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 transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the firm’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 sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This trade 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.

Manhattan Associates Price Performance

Shares of MANH stock opened at $295.10 on Wednesday. Manhattan Associates, Inc. has a one year low of $205.12 and a one year high of $312.60. The business’s 50 day simple moving average is $283.17 and its 200 day simple moving average is $272.29. The stock has a market capitalization of $18.02 billion, a PE ratio of 83.84 and a beta of 1.52.

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.