Handelsbanken Fonder AB Purchases 500 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Handelsbanken Fonder AB raised its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,888 shares of the software maker’s stock after purchasing an additional 500 shares during the period. Handelsbanken Fonder AB’s holdings in Manhattan Associates were worth $4,294,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates in the 3rd quarter worth about $34,000. Synergy Asset Management LLC bought a new stake in Manhattan Associates in the 4th quarter valued at about $35,000. Ashton Thomas Securities LLC acquired a new position in Manhattan Associates during the 3rd quarter valued at about $42,000. Brooklyn Investment Group purchased a new position in shares of Manhattan Associates in the 3rd quarter worth approximately $58,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates in the 4th quarter worth approximately $72,000. 98.45% of the stock is owned by institutional investors.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MANH. Raymond James dropped their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Citigroup dropped their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Truist Financial dropped their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $182.51 on Monday. The stock has a market cap of $11.16 billion, a P/E ratio of 52.00 and a beta of 1.50. Manhattan Associates, Inc. has a fifty-two week low of $169.94 and a fifty-two week high of $312.60. The firm’s fifty day moving average price is $247.68 and its 200-day moving average price is $266.37.

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.