Prudential PLC Increases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Prudential PLC increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 40.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 23,936 shares of the software maker’s stock after acquiring an additional 6,835 shares during the quarter. Prudential PLC’s holdings in Manhattan Associates were worth $6,468,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MANH. Arete Wealth Advisors LLC raised its holdings in shares of Manhattan Associates by 32.9% in the fourth quarter. Arete Wealth Advisors LLC now owns 985 shares of the software maker’s stock valued at $266,000 after purchasing an additional 244 shares during the last quarter. Motley Fool Asset Management LLC grew its position in Manhattan Associates by 14.2% in the 4th quarter. Motley Fool Asset Management LLC now owns 1,341 shares of the software maker’s stock worth $362,000 after purchasing an additional 167 shares in the last quarter. Kesler Norman & Wride LLC increased its stake in Manhattan Associates by 35.5% in the 4th quarter. Kesler Norman & Wride LLC now owns 2,792 shares of the software maker’s stock valued at $755,000 after buying an additional 732 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after buying an additional 841,276 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Manhattan Associates by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,554,038 shares of the software maker’s stock worth $420,459,000 after buying an additional 39,097 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Down 6.0 %

Manhattan Associates stock opened at $152.05 on Friday. The firm has a 50 day simple moving average of $184.74 and a 200 day simple moving average of $248.36. Manhattan Associates, Inc. has a 1-year low of $150.20 and a 1-year high of $312.60. The firm has a market capitalization of $9.29 billion, a price-to-earnings ratio of 43.32 and a beta of 1.47.

Insider Activity

In other 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 completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MANH. Piper Sandler decreased their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Truist Financial decreased their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a report on Monday, March 24th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Finally, Loop Capital dropped 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. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus target price 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.