Moloney Securities Asset Management LLC Acquires New Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Moloney Securities Asset Management LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 952 shares of the software maker’s stock, valued at approximately $257,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Manhattan Associates during the fourth quarter worth $3,890,000. GDS Wealth Management raised its position in Manhattan Associates by 281.4% during the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after purchasing an additional 4,683 shares during the last quarter. Oak Thistle LLC bought a new position in Manhattan Associates during the 4th quarter worth $1,326,000. Smith Group Asset Management LLC lifted its holdings in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock worth $25,195,000 after buying an additional 1,641 shares during the period. Finally, Mediolanum International Funds Ltd grew its position in shares of Manhattan Associates by 602.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock valued at $5,607,000 after buying an additional 17,187 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Trading Down 11.5 %

Shares of NASDAQ MANH opened at $177.70 on Tuesday. The firm has a market capitalization of $10.85 billion, a P/E ratio of 50.63 and a beta of 1.50. The firm’s 50-day moving average price is $268.55 and its 200-day moving average price is $270.39. Manhattan Associates, Inc. has a 1-year low of $177.12 and a 1-year high of $312.60.

Insider Buying and Selling

In other 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 owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Loop Capital cut their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Truist Financial dropped their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Robert W. Baird increased their price objective 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. Finally, Piper Sandler reiterated an “overweight” rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.33.

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.