Amalgamated Bank Grows Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Amalgamated Bank boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 30,273 shares of the software maker’s stock after buying an additional 223 shares during the period. Amalgamated Bank’s holdings in Manhattan Associates were worth $8,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after acquiring an additional 12,787 shares in the last quarter. FMR LLC lifted its position in Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after purchasing an additional 130,817 shares during the period. Geode Capital Management LLC boosted its holdings in Manhattan Associates by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after purchasing an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. increased its position 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 worth $284,169,000 after purchasing an additional 687,933 shares during the period. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $234,249,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred 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 directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Down 0.3 %

Shares of NASDAQ MANH opened at $177.61 on Thursday. The company’s 50-day moving average price is $240.78 and its 200 day moving average price is $264.77. Manhattan Associates, Inc. has a 52 week low of $169.94 and a 52 week high of $312.60. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 50.60 and a beta of 1.50.

Wall Street Analyst Weigh In

MANH has been the topic of a number of analyst reports. DA Davidson decreased their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Truist Financial decreased their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Loop Capital lowered their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, Raymond James decreased their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.33.

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.