Sumitomo Mitsui Trust Group Inc. Purchases 357,172 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 275.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 486,750 shares of the software maker’s stock after acquiring an additional 357,172 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Manhattan Associates were worth $131,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased 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 worth $619,918,000 after purchasing an additional 12,787 shares during the period. FMR LLC grew its position in Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after buying an additional 130,817 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 acquiring an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Manhattan Associates by 213.7% in the 3rd 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $234,249,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated 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 approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH stock opened at $200.90 on Friday. The business has a 50-day moving average of $270.72 and a 200 day moving average of $270.42. Manhattan Associates, Inc. has a 1-year low of $196.04 and a 1-year high of $312.60. The stock has a market capitalization of $12.27 billion, a PE ratio of 57.24 and a beta of 1.50.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MANH shares. Loop Capital lowered their target price 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. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Citigroup cut their target price on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Truist Financial lowered their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.33.

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.