18,773 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, HoldingsChannel reports. The firm bought 18,773 shares of the software maker’s stock, valued at approximately $5,084,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Metis Global Partners LLC raised its position in shares of Manhattan Associates by 7.0% during the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock valued at $226,000 after buying an additional 55 shares in the last quarter. Kestra Investment Management LLC increased its stake in Manhattan Associates by 2.9% in the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock valued at $555,000 after acquiring an additional 57 shares during the last quarter. McGlone Suttner Wealth Management Inc. increased its stake in Manhattan Associates by 8.3% in the fourth 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 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 purchasing an additional 63 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its stake 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 purchasing an additional 68 shares during the last quarter. Hedge funds and other 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 company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $143.90 on Wednesday. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The firm has a market capitalization of $8.80 billion, a P/E ratio of 41.00 and a beta of 1.36. The stock has a 50 day moving average price of $177.30 and a 200-day moving average price of $245.49.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MANH. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Loop Capital lowered their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Robert W. Baird cut their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Finally, Raymond James decreased their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $243.78.

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.