Snowden Capital Advisors LLC Boosts Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Snowden Capital Advisors LLC increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,417 shares of the software maker’s stock after purchasing an additional 95 shares during the quarter. Snowden Capital Advisors LLC’s holdings in Manhattan Associates were worth $653,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MANH. JPMorgan Chase & Co. increased its position in Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after buying an additional 687,933 shares during the period. Park Avenue Securities LLC increased its position in Manhattan Associates by 21.5% during the fourth quarter. Park Avenue Securities LLC now owns 3,825 shares of the software maker’s stock worth $1,034,000 after buying an additional 676 shares during the period. Merit Financial Group LLC acquired a new position in Manhattan Associates during the fourth quarter worth approximately $436,000. HB Wealth Management LLC acquired a new position in Manhattan Associates during the fourth quarter worth approximately $315,000. Finally, Raleigh Capital Management Inc. increased its position in Manhattan Associates by 19.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the software maker’s stock worth $142,000 after buying an additional 84 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.6%

Shares of MANH stock opened at $191.85 on Wednesday. The business’s 50 day moving average is $173.46 and its two-hundred day moving average is $222.60. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The company has a market capitalization of $11.65 billion, a P/E ratio of 54.66 and a beta of 1.13.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Loop Capital reaffirmed a “hold” rating and set a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Citigroup lowered their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Raymond James lowered their target price 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. Robert W. Baird lowered their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Finally, William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $205.57.

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.