William Blair Investment Management LLC Acquires 57,586 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

William Blair Investment Management LLC lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 682,013 shares of the software maker’s stock after acquiring an additional 57,586 shares during the quarter. William Blair Investment Management LLC’s holdings in Manhattan Associates were worth $184,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MANH. Twin Tree Management LP bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $35,000. Brooklyn Investment Group bought a new position in shares of Manhattan Associates during the third quarter valued at approximately $58,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $72,000. Institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.

Manhattan Associates Price Performance

MANH opened at $172.50 on Monday. The stock has a 50-day moving average price of $215.40 and a 200-day moving average price of $257.50. The firm has a market cap of $10.54 billion, a PE ratio of 49.15 and a beta of 1.47. Manhattan Associates, Inc. has a 1 year low of $163.10 and a 1 year high of $312.60.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MANH shares. DA Davidson decreased their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Loop Capital lowered their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Truist Financial lowered their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average price target of $252.56.

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.