Moloney Securities Asset Management LLC Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Moloney Securities Asset Management LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 952 shares of the software maker’s stock, valued at approximately $257,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $3,890,000. GDS Wealth Management boosted its stake in Manhattan Associates by 281.4% in the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock valued at $1,715,000 after purchasing an additional 4,683 shares during the period. Oak Thistle LLC acquired a new position in Manhattan Associates in the 4th quarter valued at $1,326,000. Smith Group Asset Management LLC increased its position in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock worth $25,195,000 after buying an additional 1,641 shares during the period. Finally, Mediolanum International Funds Ltd lifted its holdings in shares of Manhattan Associates by 602.0% during the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after buying an additional 17,187 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $177.70 on Tuesday. Manhattan Associates, Inc. has a 52-week low of $177.12 and a 52-week high of $312.60. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of 50.63 and a beta of 1.50. The business’s fifty day moving average is $268.55 and its 200-day moving average is $270.39.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on MANH shares. Piper Sandler restated an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Robert W. Baird increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. DA Davidson reduced their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Loop Capital lowered their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

About Manhattan Associates

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.