Zions Bancorporation N.A. Increases Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Zions Bancorporation N.A. lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 16.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,027 shares of the software maker’s stock after purchasing an additional 1,408 shares during the period. Zions Bancorporation N.A.’s holdings in Manhattan Associates were worth $2,710,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MANH. Vanguard Group Inc. raised its position in Manhattan Associates by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock worth $1,811,299,000 after acquiring an additional 50,538 shares during the period. Stevens Capital Management LP bought a new stake in shares of Manhattan Associates in the 4th quarter worth approximately $211,000. LPL Financial LLC lifted its stake in Manhattan Associates by 22.1% in the fourth quarter. LPL Financial LLC now owns 39,565 shares of the software maker’s stock valued at $10,724,000 after purchasing an additional 7,162 shares during the last quarter. Fox Run Management L.L.C. grew its holdings in Manhattan Associates by 16.2% during the fourth quarter. Fox Run Management L.L.C. now owns 2,937 shares of the software maker’s stock valued at $794,000 after purchasing an additional 410 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in Manhattan Associates in the fourth quarter worth $12,161,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MANH. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a report on Monday. Truist Financial lowered their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Robert W. Baird decreased their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Finally, Piper Sandler lowered their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $179.55 on Wednesday. Manhattan Associates, Inc. has a one year low of $163.10 and a one year high of $312.60. The business’s fifty day moving average is $202.16 and its 200 day moving average is $253.38. The stock has a market capitalization of $10.97 billion, a PE ratio of 51.15 and a beta of 1.47.

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.