State of Michigan Retirement System Purchases 400 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

State of Michigan Retirement System increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.4% in the fourth quarter, HoldingsChannel reports. The firm owned 16,731 shares of the software maker’s stock after buying an additional 400 shares during the period. State of Michigan Retirement System’s holdings in Manhattan Associates were worth $4,521,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC lifted its position in shares of Manhattan Associates by 5.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,467 shares of the software maker’s stock valued at $396,000 after buying an additional 73 shares during the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of Manhattan Associates by 11.6% during the 4th quarter. Fidelis Capital Partners LLC now owns 1,427 shares of the software maker’s stock worth $386,000 after acquiring an additional 148 shares during the last quarter. Jones Financial Companies Lllp raised its stake in Manhattan Associates by 212.7% in the 4th quarter. Jones Financial Companies Lllp now owns 516 shares of the software maker’s stock valued at $139,000 after acquiring an additional 351 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Manhattan Associates by 38.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,427 shares of the software maker’s stock valued at $387,000 after purchasing an additional 400 shares during the last quarter. Finally, Bridges Investment Management Inc. boosted its position in Manhattan Associates by 18.2% during the fourth quarter. Bridges Investment Management Inc. now owns 2,060 shares of the software maker’s stock worth $557,000 after purchasing an additional 317 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

MANH has been the topic of several research analyst reports. Raymond James dropped their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler reissued an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. DA Davidson reduced their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” 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 research report on Monday, January 13th. Finally, Citigroup dropped their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Trading Down 2.2 %

Shares of MANH stock opened at $169.06 on Friday. The stock has a market cap of $10.33 billion, a P/E ratio of 48.17 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $167.79 and a 1 year high of $312.60. The stock has a 50 day simple moving average of $230.05 and a 200 day simple moving average of $262.05.

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.