Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 48.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,090 shares of the software maker’s stock after buying an additional 682 shares during the period. Blue Trust Inc.’s holdings in Manhattan Associates were worth $588,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MANH. Oak Thistle LLC acquired a new position in shares of Manhattan Associates during the 4th quarter valued at $1,326,000. GAMMA Investing LLC lifted its stake in shares of Manhattan Associates by 47.5% during the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after purchasing an additional 382 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in shares of Manhattan Associates by 602.0% in the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after buying an additional 17,187 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after buying an additional 687,933 shares in the last quarter. Finally, Merit Financial Group LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $436,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MANH shares. Loop Capital decreased their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday. Piper Sandler restated an “overweight” rating and issued a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday. DA Davidson dropped their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday. Raymond James decreased their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $273.33.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $214.14 on Friday. The company has a market capitalization of $13.08 billion, a price-to-earnings ratio of 60.84 and a beta of 1.52. Manhattan Associates, Inc. has a one year low of $205.12 and a one year high of $312.60. The stock has a 50-day simple moving average of $281.04 and a 200 day simple moving average of $271.55.

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.