Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by Smith Group Asset Management LLC

Smith Group Asset Management LLC boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,232 shares of the software maker’s stock after buying an additional 1,641 shares during the period. Manhattan Associates accounts for approximately 1.9% of Smith Group Asset Management LLC’s holdings, making the stock its 22nd largest holding. Smith Group Asset Management LLC owned approximately 0.15% of Manhattan Associates worth $25,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fidelis Capital Partners LLC boosted its position in shares of Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after acquiring an additional 40 shares during the last quarter. Ascent Group LLC raised its stake in Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. grew its stake in shares of Manhattan Associates by 16.7% during the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after buying an additional 43 shares during the period. Huntington National Bank grew its stake in shares of Manhattan Associates by 5.9% during the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after buying an additional 49 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock worth $506,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MANH shares. Piper Sandler initiated coverage on Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price target for the company. Truist Financial boosted 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 shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday. DA Davidson boosted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Raymond James raised their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $292.56.

Manhattan Associates Trading Up 2.4 %

MANH opened at $295.10 on Wednesday. Manhattan Associates, Inc. has a twelve month low of $205.12 and a twelve month high of $312.60. The firm has a market cap of $18.02 billion, a price-to-earnings ratio of 83.84 and a beta of 1.52. The company has a fifty day simple moving average of $283.17 and a 200 day simple moving average of $272.29.

Insider Activity

In related news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value 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 approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on 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 transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Manhattan Associates 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.