Royal London Asset Management Ltd. Invests $919,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Royal London Asset Management Ltd. purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,400 shares of the software maker’s stock, valued at approximately $919,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Manhattan Associates during the 4th quarter valued at $3,890,000. GDS Wealth Management boosted its stake in Manhattan Associates by 281.4% during the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares in the last quarter. Oak Thistle LLC purchased a new stake in Manhattan Associates in the fourth quarter worth about $1,326,000. AustralianSuper Pty Ltd increased its stake in shares of Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after purchasing an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $1,200,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MANH has been the topic of several recent research reports. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. DA Davidson cut their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Citigroup lowered their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $177.97 on Tuesday. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of 50.70 and a beta of 1.47. The business has a 50-day simple moving average of $203.99 and a two-hundred day simple moving average of $253.88. Manhattan Associates, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $312.60.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

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.