DnB Asset Management AS Purchases 172 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

DnB Asset Management AS boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 9,906 shares of the software maker’s stock after buying an additional 172 shares during the quarter. DnB Asset Management AS’s holdings in Manhattan Associates were worth $2,677,000 at the end of the most recent quarter.

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

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $174.76 on Wednesday. Manhattan Associates, Inc. has a 1 year low of $163.10 and a 1 year high of $312.60. The company has a 50-day moving average of $192.01 and a 200 day moving average of $250.29. The firm has a market cap of $10.68 billion, a price-to-earnings ratio of 49.79 and a beta of 1.47.

Analyst Ratings Changes

A number of research firms have recently weighed in on MANH. Citigroup dropped their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Robert W. Baird cut their price objective on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Truist Financial decreased 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. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Three research 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

Insider Activity

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company 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.