Resona Asset Management Co. Ltd. Purchases New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Resona Asset Management Co. Ltd. purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 18,773 shares of the software maker’s stock, valued at approximately $5,084,000.

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

Analysts Set New Price Targets

A number of research firms have weighed in on MANH. 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. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. 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. Piper Sandler dropped their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Finally, Citigroup decreased their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $243.78.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Stock Down 1.7 %

MANH stock opened at $143.90 on Wednesday. The stock has a 50-day simple moving average of $177.30 and a two-hundred day simple moving average of $245.49. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm has a market capitalization of $8.80 billion, a PE ratio of 41.00 and a beta of 1.36.

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.