EverSource Wealth Advisors LLC Buys 182 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

EverSource Wealth Advisors LLC lifted its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 144.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 308 shares of the software maker’s stock after purchasing an additional 182 shares during the period. EverSource Wealth Advisors LLC’s holdings in Manhattan Associates were worth $83,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MANH. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates in the fourth quarter worth about $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $35,000. Brooklyn Investment Group bought a new stake in shares of Manhattan Associates during the third quarter valued at approximately $58,000. Bank of Jackson Hole Trust purchased a new stake in Manhattan Associates in the fourth quarter worth $72,000. Finally, Geneos Wealth Management Inc. raised its holdings in Manhattan Associates by 255.2% in the fourth quarter. Geneos Wealth Management Inc. now owns 309 shares of the software maker’s stock worth $84,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Stock Down 1.6 %

Shares of MANH stock opened at $172.78 on Wednesday. The company has a 50 day moving average price of $211.58 and a 200-day moving average price of $256.24. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60. The firm has a market capitalization of $10.56 billion, a PE ratio of 49.23 and a beta of 1.47.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MANH. Piper Sandler reduced their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. 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 report on Wednesday, January 29th. Loop Capital lowered their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Citigroup dropped their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Finally, Robert W. Baird reduced their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $243.78.

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.