Treasurer of the State of North Carolina Boosts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Treasurer of the State of North Carolina increased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,591 shares of the software maker’s stock after purchasing an additional 347 shares during the quarter. Treasurer of the State of North Carolina owned approximately 0.05% of Manhattan Associates worth $8,537,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MANH. Metis Global Partners LLC lifted its position in Manhattan Associates by 7.0% during the fourth 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 during the period. Kestra Investment Management LLC boosted its stake in Manhattan Associates by 2.9% during the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after acquiring an additional 57 shares in the last quarter. McGlone Suttner Wealth Management Inc. grew its holdings 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 worth $220,000 after purchasing an additional 62 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in shares of 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 holdings in shares of Manhattan Associates by 7.8% during the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker’s stock valued at $254,000 after purchasing an additional 68 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MANH has been the topic of several recent research reports. Loop Capital restated a “hold” rating and issued a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a research note on Thursday. Citigroup reduced their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Truist Financial dropped their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Robert W. Baird reduced their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. Finally, DA Davidson upgraded shares of Manhattan Associates to a “strong-buy” rating in a research note on Monday, March 24th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $232.11.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction on Thursday, March 6th. The stock was 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 in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Up 0.7 %

Shares of Manhattan Associates stock opened at $158.67 on Monday. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The company’s 50 day moving average is $173.89 and its 200 day moving average is $242.09. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 45.21 and a beta of 1.36.

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.