Erste Asset Management GmbH Has $7.05 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Erste Asset Management GmbH raised its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 24.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,765 shares of the software maker’s stock after purchasing an additional 5,140 shares during the quarter. Erste Asset Management GmbH’s holdings in Manhattan Associates were worth $7,049,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter worth about $35,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates in the 4th quarter valued at about $34,000. Ashton Thomas Securities LLC bought a new position in Manhattan Associates in the 3rd quarter valued at about $42,000. Brooklyn Investment Group acquired a new stake in Manhattan Associates during the third quarter worth approximately $58,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $72,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MANH shares. Raymond James dropped their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Truist Financial decreased their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Loop Capital dropped their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, DA Davidson cut their price objective 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Manhattan Associates Stock Down 1.9 %

MANH stock opened at $163.50 on Friday. The company’s 50-day moving average price is $219.52 and its two-hundred day moving average price is $258.82. Manhattan Associates, Inc. has a 12 month low of $162.78 and a 12 month high of $312.60. The firm has a market cap of $9.99 billion, a P/E ratio of 46.58 and a beta of 1.47.

Insider Activity at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by insiders.

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.