Robertson Stephens Wealth Management LLC Acquires 83 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Robertson Stephens Wealth Management LLC boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,759 shares of the software maker’s stock after purchasing an additional 83 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Manhattan Associates were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Calamos Advisors LLC increased its position in Manhattan Associates by 23.7% in the 4th quarter. Calamos Advisors LLC now owns 5,367 shares of the software maker’s stock worth $1,450,000 after buying an additional 1,027 shares during the period. abrdn plc increased its position in shares of Manhattan Associates by 2.1% during the fourth quarter. abrdn plc now owns 23,088 shares of the software maker’s stock valued at $6,250,000 after purchasing an additional 476 shares during the period. Trust Point Inc. increased its position in shares of Manhattan Associates by 29.0% during the fourth quarter. Trust Point Inc. now owns 1,787 shares of the software maker’s stock valued at $483,000 after purchasing an additional 402 shares during the period. GDS Wealth Management increased its position in shares of Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock valued at $1,715,000 after purchasing an additional 4,683 shares during the period. Finally, Greenleaf Trust increased its position in shares of Manhattan Associates by 145.6% during the fourth quarter. Greenleaf Trust now owns 1,967 shares of the software maker’s stock valued at $532,000 after purchasing an additional 1,166 shares during the period. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $200.90 on Friday. The firm has a market cap of $12.27 billion, a P/E ratio of 57.24 and a beta of 1.50. The business’s fifty day moving average is $270.72 and its two-hundred day moving average is $270.42. Manhattan Associates, Inc. has a 52 week low of $196.04 and a 52 week high of $312.60.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Citigroup lowered their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. 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. Robert W. Baird boosted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler restated an “overweight” rating and set a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Finally, Raymond James decreased their price target 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 research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Insiders Place Their Bets

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s 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 directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.