Trust Point Inc. Boosts Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Trust Point Inc. increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 29.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,787 shares of the software maker’s stock after purchasing an additional 402 shares during the period. Trust Point Inc.’s holdings in Manhattan Associates were worth $483,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. purchased a new position in Manhattan Associates during the fourth quarter worth about $3,890,000. Oak Thistle LLC purchased a new position in Manhattan Associates during the fourth quarter worth about $1,326,000. GDS Wealth Management raised its holdings in Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after purchasing an additional 4,683 shares in the last quarter. GAMMA Investing LLC increased its holdings in Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after buying an additional 382 shares in the last quarter. Finally, Smith Group Asset Management LLC increased its holdings in Manhattan Associates by 1.8% in the fourth quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock valued at $25,195,000 after buying an additional 1,641 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MANH has been the subject of a number of research analyst reports. Loop Capital dropped their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Robert W. Baird increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. DA Davidson dropped their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, Raymond James dropped their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.33.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates 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 in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction on Friday, November 29th. The shares were 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 in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $200.72 on Thursday. Manhattan Associates, Inc. has a 1 year low of $196.04 and a 1 year high of $312.60. The firm’s 50 day moving average price is $274.21 and its 200 day moving average price is $271.10. The firm has a market cap of $12.26 billion, a P/E ratio of 57.19 and a beta of 1.50.

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.