Bank of Jackson Hole Trust Buys New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Bank of Jackson Hole Trust bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 265 shares of the software maker’s stock, valued at approximately $72,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Manhattan Associates during the third quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates during the fourth quarter valued at approximately $35,000. Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates during the third quarter valued at approximately $42,000. Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates during the third quarter valued at approximately $58,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Manhattan Associates during the third quarter valued at approximately $63,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $183.21 on Thursday. The firm has a market cap of $11.20 billion, a PE ratio of 52.20 and a beta of 1.50. The firm’s 50 day moving average price is $252.47 and its two-hundred day moving average price is $266.96. Manhattan Associates, Inc. has a twelve month low of $169.94 and a twelve month high of $312.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Loop Capital cut their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and set a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Citigroup cut their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. DA Davidson cut their price target 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. Finally, Raymond James cut 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 investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Insiders Place Their Bets

In other Manhattan Associates 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 value of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents 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.

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.