Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 559,560 shares of the software maker’s stock after purchasing an additional 16,800 shares during the period. Renaissance Technologies LLC’s holdings in Manhattan Associates were worth $151,215,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MANH. Twin Tree Management LP purchased a new position in Manhattan Associates in the fourth quarter valued at about $25,000. Whipplewood Advisors LLC acquired a new stake in Manhattan Associates in the fourth quarter valued at $34,000. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates in the 4th quarter valued at about $35,000. Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates during the fourth quarter worth about $72,000. Finally, EverSource Wealth Advisors LLC grew its stake in Manhattan Associates by 144.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock worth $83,000 after purchasing an additional 182 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MANH shares. Piper Sandler cut their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Raymond James cut their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a research note on Monday, March 24th. Loop Capital cut their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Citigroup reduced their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

Insider Buying and Selling at Manhattan Associates

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

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $146.40 on Tuesday. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm’s 50-day simple moving average is $181.91 and its 200-day simple moving average is $247.14. The firm has a market cap of $8.95 billion, a P/E ratio of 41.71 and a beta of 1.36.

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.