Manhattan Associates, Inc. (NASDAQ:MANH) Stock Position Raised by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.7% during the fourth quarter, Holdings Channel reports. The firm owned 438,760 shares of the software maker’s stock after purchasing an additional 15,851 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Manhattan Associates were worth $118,974,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MANH. State Street Corp raised its holdings in Manhattan Associates by 0.6% during the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after buying an additional 12,787 shares during the period. FMR LLC raised its holdings in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after acquiring an additional 130,817 shares during the period. Geode Capital Management LLC lifted its position in shares of Manhattan Associates by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after acquiring an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new position in Manhattan Associates in the 3rd quarter worth approximately $234,249,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Down 0.5 %

MANH stock opened at $166.66 on Thursday. The firm has a market cap of $10.19 billion, a PE ratio of 47.48 and a beta of 1.47. Manhattan Associates, Inc. has a 1 year low of $164.48 and a 1 year high of $312.60. The company has a fifty day simple moving average of $219.52 and a 200 day simple moving average of $258.82.

Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on MANH shares. Raymond James decreased their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler reissued an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Truist Financial lowered their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $273.33.

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.