Geode Capital Management LLC Grows Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Geode Capital Management LLC raised its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 2.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,554,038 shares of the software maker’s stock after purchasing an additional 39,097 shares during the period. Geode Capital Management LLC owned 2.54% of Manhattan Associates worth $420,459,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. National Bank of Canada FI raised its position in shares of Manhattan Associates by 3,018.3% in the 4th quarter. National Bank of Canada FI now owns 30,279 shares of the software maker’s stock worth $8,183,000 after acquiring an additional 29,308 shares in the last quarter. Franklin Resources Inc. raised its holdings in Manhattan Associates by 43.2% in the fourth quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after purchasing an additional 578,295 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Manhattan Associates by 203.0% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 4,297 shares of the software maker’s stock valued at $1,161,000 after buying an additional 2,879 shares during the last quarter. Schroder Investment Management Group grew its position in shares of Manhattan Associates by 20.0% in the 4th quarter. Schroder Investment Management Group now owns 88,541 shares of the software maker’s stock worth $24,007,000 after buying an additional 14,738 shares during the last quarter. Finally, Allstate Corp bought a new position in shares of Manhattan Associates during the 4th quarter worth approximately $455,000. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the business’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 transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.72% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MANH. Truist Financial lowered their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Citigroup dropped their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Three investment 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 company. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $152.05 on Friday. The company’s fifty day moving average price is $184.74 and its 200-day moving average price is $248.36. Manhattan Associates, Inc. has a 1-year low of $150.20 and a 1-year high of $312.60. The firm has a market capitalization of $9.29 billion, a P/E ratio of 43.32 and a beta of 1.47.

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.