Y Intercept Hong Kong Ltd Makes New $1.20 Million Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Y Intercept Hong Kong Ltd purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,441 shares of the software maker’s stock, valued at approximately $1,200,000.

A number of other institutional investors have also made changes to their positions in MANH. Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the 3rd quarter valued at approximately $34,000. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $35,000. Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates in the third quarter valued at approximately $42,000. Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates in the third quarter worth $58,000. Finally, Bank of Jackson Hole Trust bought a new position in Manhattan Associates during the fourth quarter worth $72,000. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MANH shares. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Citigroup decreased their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Piper Sandler restated an “overweight” rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. DA Davidson reduced their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $177.61 on Thursday. The business has a 50 day simple moving average of $240.78 and a 200 day simple moving average of $264.77. Manhattan Associates, Inc. has a one year low of $169.94 and a one year high of $312.60. The company has a market capitalization of $10.86 billion, a PE ratio of 50.60 and a beta of 1.50.

Insider Activity

In related news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated 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 transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

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.