Lbp Am Sa Purchases 7,241 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Lbp Am Sa grew its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 74.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 16,911 shares of the software maker’s stock after acquiring an additional 7,241 shares during the period. Lbp Am Sa’s holdings in Manhattan Associates were worth $4,570,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MANH. Massachusetts Financial Services Co. MA bought a new position in shares of Manhattan Associates in the 3rd quarter valued at $234,249,000. JPMorgan Chase & Co. lifted its stake 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Manhattan Associates by 275.6% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after acquiring an additional 357,172 shares during the last quarter. Swedbank AB raised its position in Manhattan Associates by 1,840.3% during the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock worth $99,724,000 after purchasing an additional 350,000 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its position in Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after purchasing an additional 210,929 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Up 5.5 %

Shares of Manhattan Associates stock opened at $172.50 on Friday. The business has a 50-day moving average price of $217.41 and a two-hundred day moving average price of $258.16. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60. The company has a market cap of $10.54 billion, a P/E ratio of 49.15 and a beta of 1.47.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Raymond James lowered 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 report on Thursday, February 13th. DA Davidson lowered their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Citigroup lowered their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Piper Sandler lowered their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $252.56.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’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 sale, the chief financial officer now directly owns 101,263 shares in the company, 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 at this link. 0.72% of the stock is currently owned by company insiders.

About Manhattan Associates

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.