Manhattan Associates, Inc. (NASDAQ:MANH) Stock Holdings Increased by Bridges Investment Management Inc.

Bridges Investment Management Inc. lifted its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,060 shares of the software maker’s stock after purchasing an additional 317 shares during the quarter. Bridges Investment Management Inc.’s holdings in Manhattan Associates were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Capital Performance Advisors LLP bought a new position in Manhattan Associates during the third quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new position in Manhattan Associates during the fourth quarter valued at approximately $35,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates during the fourth quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new position in Manhattan Associates during the third quarter valued at approximately $42,000. Finally, Brooklyn Investment Group bought a new position in Manhattan Associates during the third quarter valued at approximately $58,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

MANH opened at $176.88 on Monday. Manhattan Associates, Inc. has a fifty-two week low of $169.94 and a fifty-two week high of $312.60. The firm’s fifty day moving average price is $236.56 and its two-hundred day moving average price is $263.85. The company has a market capitalization of $10.81 billion, a P/E ratio of 50.39 and a beta of 1.50.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Truist Financial cut their price objective 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 Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Raymond James lowered their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Finally, DA Davidson lowered their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $273.33.

About Manhattan Associates

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.