GDS Wealth Management Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

GDS Wealth Management boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 281.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,347 shares of the software maker’s stock after purchasing an additional 4,683 shares during the period. GDS Wealth Management’s holdings in Manhattan Associates were worth $1,715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new position in Manhattan Associates during the third quarter valued at $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates in the fourth quarter valued at about $35,000. Ashton Thomas Securities LLC purchased a new position in shares of Manhattan Associates in the third quarter valued at about $42,000. Carolina Wealth Advisors LLC purchased a new position in shares of Manhattan Associates in the third quarter valued at about $50,000. Finally, Brooklyn Investment Group purchased a new position in shares of Manhattan Associates in the third quarter valued at about $58,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

MANH opened at $200.28 on Tuesday. The stock has a market cap of $12.23 billion, a price-to-earnings ratio of 57.06 and a beta of 1.50. The stock’s 50 day moving average price is $277.80 and its 200-day moving average price is $271.75. Manhattan Associates, Inc. has a one year low of $199.35 and a one year high of $312.60.

Analysts Set New Price Targets

MANH has been the topic of several research analyst reports. DA Davidson lowered their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Truist Financial reduced their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Loop Capital reduced 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. Robert W. Baird boosted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Raymond James reduced their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Insider Activity at Manhattan Associates

In related 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 completion of the sale, the executive vice president now owns 42,812 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

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.