Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. increased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 42.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,559 shares of the software maker’s stock after purchasing an additional 48,927 shares during the period. Jupiter Asset Management Ltd.’s holdings in Manhattan Associates were worth $44,470,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares in the last quarter. FMR LLC grew its stake in Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after purchasing an additional 130,817 shares in the last quarter. Geode Capital Management LLC grew its stake in Manhattan Associates by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after purchasing an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Manhattan Associates in the third quarter worth about $234,249,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of research reports. Truist Financial decreased their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. DA Davidson decreased their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. 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, January 29th. Finally, Loop Capital decreased their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Trading Up 1.1 %

MANH opened at $167.52 on Wednesday. Manhattan Associates, Inc. has a twelve month low of $164.48 and a twelve month high of $312.60. The stock has a market cap of $10.24 billion, a PE ratio of 47.73 and a beta of 1.47. The business’s 50 day moving average is $221.59 and its 200-day moving average is $259.47.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s 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 completion of the sale, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

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.