Caisse de depot et placement du Quebec purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 277,563 shares of the software maker’s stock, valued at approximately $38,651,000. Caisse de depot et placement du Quebec owned 0.48% of Manhattan Associates at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in MANH. Caitong International Asset Management Co. Ltd boosted its stake in shares of Manhattan Associates by 448.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 112 shares during the period. Versant Capital Management Inc increased its stake in Manhattan Associates by 508.9% during the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after buying an additional 229 shares during the period. BNP Paribas acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $39,000. TD Private Client Wealth LLC lifted its holdings in Manhattan Associates by 83.8% during the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after buying an additional 109 shares in the last quarter. Finally, Leonteq Securities AG acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 98.45% of the company’s stock.
Manhattan Associates Stock Down 0.2%
MANH stock opened at $223.28 on Friday. The business has a 50 day moving average price of $173.96 and a 200 day moving average price of $151.13. The stock has a market cap of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $227.03.
Insider Buying and Selling at Manhattan Associates
In other news, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,139 shares of company stock valued at $1,744,879. Company insiders own 0.84% of the company’s stock.
Analyst Ratings Changes
MANH has been the subject of several research reports. Morgan Stanley set a $180.00 price target on shares of Manhattan Associates in a research note on Wednesday, July 29th. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays decreased their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Stifel Nicolaus boosted their target price on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Citigroup upped their price target on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $213.40.
View Our Latest Stock Report on Manhattan Associates
Manhattan Associates Company Profile
Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.
Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.
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