First Citizens Bank & Trust Co. Has $440,000 Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

First Citizens Bank & Trust Co. increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 71.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,628 shares of the software maker’s stock after buying an additional 677 shares during the period. First Citizens Bank & Trust Co.’s holdings in Manhattan Associates were worth $440,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Oak Thistle LLC acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $1,326,000. GAMMA Investing LLC boosted its position in Manhattan Associates by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after buying an additional 382 shares during the period. Mediolanum International Funds Ltd boosted its position in Manhattan Associates by 602.0% during the 3rd 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. boosted its position in Manhattan Associates by 213.7% during the 3rd 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. Finally, Chartwell Investment Partners LLC boosted its position in Manhattan Associates by 31.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock worth $6,065,000 after buying an additional 5,119 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

MANH opened at $288.23 on Tuesday. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 81.88 and a beta of 1.52. The firm’s fifty day moving average price is $282.68 and its two-hundred day moving average price is $271.91. Manhattan Associates, Inc. has a 1 year low of $205.12 and a 1 year high of $312.60.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Citigroup lowered their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday. Truist Financial lifted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. DA Davidson lifted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird lifted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.56.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % 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.

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.