Bessemer Group Inc. Acquires 8,425 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Bessemer Group Inc. increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 781,424 shares of the software maker’s stock after acquiring an additional 8,425 shares during the period. Bessemer Group Inc. owned about 1.28% of Manhattan Associates worth $211,172,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Metis Global Partners LLC grew its stake in shares of Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after purchasing an additional 55 shares during the period. Kestra Investment Management LLC grew its position in shares of Manhattan Associates by 2.9% during the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after buying an additional 57 shares during the period. McGlone Suttner Wealth Management Inc. increased its stake in shares of Manhattan Associates by 8.3% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock valued at $220,000 after acquiring an additional 62 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Manhattan Associates by 2.6% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock valued at $678,000 after acquiring an additional 63 shares during the period. Finally, Kathmere Capital Management LLC raised its position in shares of Manhattan Associates by 7.8% in the 4th quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker’s stock valued at $254,000 after acquiring an additional 68 shares during the period. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 1.7 %

Shares of MANH opened at $143.90 on Wednesday. The company has a market cap of $8.80 billion, a price-to-earnings ratio of 41.00 and a beta of 1.36. The company’s fifty day simple moving average is $177.30 and its 200 day simple moving average is $245.49. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MANH has been the topic of a number of recent analyst reports. DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Piper Sandler lowered their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. Truist Financial cut their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Citigroup dropped their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

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.