Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Trust Point Inc.

Trust Point Inc. raised its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 29.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,787 shares of the software maker’s stock after purchasing an additional 402 shares during the period. Trust Point Inc.’s holdings in Manhattan Associates were worth $483,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Capital Performance Advisors LLP acquired a new position in Manhattan Associates during the 3rd quarter valued at about $34,000. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates during the 4th quarter worth about $35,000. Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates during the 3rd quarter worth about $42,000. Carolina Wealth Advisors LLC bought a new stake in shares of Manhattan Associates during the 3rd quarter worth about $50,000. Finally, Brooklyn Investment Group bought a new stake in shares of Manhattan Associates during the 3rd quarter worth about $58,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at $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. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on MANH shares. Loop Capital dropped their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Piper Sandler reiterated an “overweight” rating and issued a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Raymond James dropped their target price 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. Finally, DA Davidson dropped their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Price Performance

MANH stock opened at $200.72 on Thursday. Manhattan Associates, Inc. has a 52-week low of $196.04 and a 52-week high of $312.60. The company’s 50 day simple moving average is $274.21 and its 200-day simple moving average is $271.10. The firm has a market capitalization of $12.26 billion, a P/E ratio of 57.19 and a beta of 1.50.

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.