Y Intercept Hong Kong Ltd Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Y Intercept Hong Kong Ltd bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,441 shares of the software maker’s stock, valued at approximately $1,200,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the 3rd quarter worth about $34,000. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates during the fourth quarter worth approximately $35,000. Ashton Thomas Securities LLC acquired a new position in shares of Manhattan Associates during the third quarter worth approximately $42,000. Brooklyn Investment Group bought a new stake in shares of Manhattan Associates during the third quarter valued at approximately $58,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $72,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

MANH opened at $177.61 on Thursday. The firm’s fifty day moving average is $240.78 and its two-hundred day moving average is $264.77. The firm has a market cap of $10.86 billion, a PE ratio of 50.60 and a beta of 1.50. Manhattan Associates, Inc. has a twelve month low of $169.94 and a twelve month high of $312.60.

Insiders Place Their Bets

In other news, 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on MANH. Loop Capital decreased their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. DA Davidson lowered their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Finally, Citigroup lowered their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus 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.