Franklin Resources Inc. Acquires 578,295 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Franklin Resources Inc. boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 43.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,916,509 shares of the software maker’s stock after acquiring an additional 578,295 shares during the quarter. Franklin Resources Inc.’s holdings in Manhattan Associates were worth $517,917,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Manhattan Associates during the fourth quarter worth about $201,377,000. JPMorgan Chase & Co. increased 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 valued at $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in Manhattan Associates by 275.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after purchasing an additional 357,172 shares in the last quarter. Swedbank AB lifted its stake in Manhattan Associates by 1,840.3% during the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock worth $99,724,000 after purchasing an additional 350,000 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in shares of Manhattan Associates by 968.0% in the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after purchasing an additional 210,929 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates 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 sale, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Piper Sandler decreased their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Raymond James cut their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. DA Davidson upgraded shares of Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Finally, Citigroup cut their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

Manhattan Associates Trading Down 0.3 %

MANH stock opened at $173.04 on Tuesday. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of 49.30 and a beta of 1.47. The firm’s 50-day moving average price is $194.16 and its two-hundred day moving average price is $250.92. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60.

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.