Quarry LP Buys Shares of 700 Manhattan Associates, Inc. (NASDAQ:MANH)

Quarry LP purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 700 shares of the software maker’s stock, valued at approximately $189,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MANH. Massachusetts Financial Services Co. MA lifted its position in shares of Manhattan Associates by 101.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after buying an additional 841,276 shares during the last quarter. Norges Bank acquired a new position in shares of Manhattan Associates during the 4th quarter worth about $201,377,000. JPMorgan Chase & Co. lifted its position in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Manhattan Associates by 275.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $174.58 on Monday. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The company’s fifty day moving average is $169.19 and its 200-day moving average is $233.92. The company has a market capitalization of $10.60 billion, a PE ratio of 49.74 and a beta of 1.36.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction 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. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Raymond James decreased their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. DA Davidson lifted their price target on shares of Manhattan Associates from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Robert W. Baird decreased their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Piper Sandler decreased their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Finally, Citigroup decreased their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.38.

Manhattan Associates Company 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.