US Asset Management LLC Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

US Asset Management LLC purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, Holdings Channel reports. The firm purchased 967 shares of the software maker’s stock, valued at approximately $261,000.

Several other large investors have also modified their holdings of the business. Twin Tree Management LP acquired a new stake in Manhattan Associates during the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new stake in Manhattan Associates during the fourth quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates during the fourth quarter worth approximately $35,000. Transce3nd LLC acquired a new stake in Manhattan Associates during the fourth quarter worth approximately $41,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Manhattan Associates during the fourth quarter worth approximately $72,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at $17,298,758.29. The trade was a 2.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MANH. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. 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 report on Friday, March 14th. 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 report on Friday, March 14th. Robert W. Baird lifted their price target on shares of Manhattan Associates from $197.00 to $212.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Raymond James decreased their price target on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.14.

Manhattan Associates Trading Down 0.3%

Shares of MANH stock opened at $187.49 on Friday. The company’s fifty day simple moving average is $174.01 and its 200-day simple moving average is $221.82. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60. The company has a market cap of $11.38 billion, a PE ratio of 53.42 and a beta of 1.13.

About Manhattan Associates

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.