Advisor OS LLC Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Advisor OS LLC raised its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 89.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,461 shares of the software maker’s stock after purchasing an additional 1,161 shares during the period. Advisor OS LLC’s holdings in Manhattan Associates were worth $665,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MANH. Capital Performance Advisors LLP purchased a new position in Manhattan Associates in the 3rd quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new position in shares of Manhattan Associates in the fourth quarter worth $35,000. Ashton Thomas Securities LLC purchased a new position in shares of Manhattan Associates in the third quarter valued at $42,000. Brooklyn Investment Group bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at $58,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Manhattan Associates during the 4th quarter worth about $72,000. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MANH shares. Truist Financial reduced their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Loop Capital decreased their target price 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 reiterated 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. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, Citigroup lowered their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $177.61 on Thursday. 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 $240.78 and its 200-day moving average price is $264.77. The stock has a market cap of $10.86 billion, a P/E ratio of 50.60 and a beta of 1.50.

Insider Buying and Selling at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the 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 transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

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.