Bessemer Group Inc. Has $211.17 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Bessemer Group Inc. increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 781,424 shares of the software maker’s stock after purchasing an additional 8,425 shares during the period. Bessemer Group Inc.’s holdings in Manhattan Associates were worth $211,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC raised its stake in Manhattan Associates by 6.4% in the 3rd quarter. HighTower Advisors LLC now owns 5,002 shares of the software maker’s stock worth $1,415,000 after purchasing an additional 301 shares in the last quarter. Janus Henderson Group PLC grew its position in Manhattan Associates by 13.7% during the third quarter. Janus Henderson Group PLC now owns 2,762 shares of the software maker’s stock worth $777,000 after buying an additional 332 shares in the last quarter. IHT Wealth Management LLC acquired a new position in Manhattan Associates in the 3rd quarter valued at $240,000. Stifel Financial Corp grew its holdings in shares of Manhattan Associates by 1.6% during the 3rd quarter. Stifel Financial Corp now owns 30,219 shares of the software maker’s stock worth $8,503,000 after purchasing an additional 471 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Manhattan Associates by 2.0% during the third quarter. Wellington Management Group LLP now owns 113,806 shares of the software maker’s stock worth $32,023,000 after purchasing an additional 2,237 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the sale, the chief financial officer now 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 filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MANH shares. Robert W. Baird reduced their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Loop Capital lowered their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Truist Financial decreased their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler decreased their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Finally, Raymond James dropped their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Trading Down 1.7 %

MANH stock opened at $143.90 on Wednesday. The firm has a market cap of $8.80 billion, a PE 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. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.

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.