Norges Bank Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Norges Bank purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 745,179 shares of the software maker’s stock, valued at approximately $201,377,000. Norges Bank owned 1.22% of Manhattan Associates as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MANH. Ascent Group LLC grew its holdings in shares of Manhattan Associates by 4.8% during the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after acquiring an additional 41 shares in the last quarter. Metis Global Partners LLC raised its stake in shares of Manhattan Associates by 7.0% in the 4th quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock valued at $226,000 after acquiring an additional 55 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in Manhattan Associates by 2.9% in the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after purchasing an additional 57 shares during the last quarter. McGlone Suttner Wealth Management Inc. boosted its position in Manhattan Associates by 8.3% during 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. Finally, Meiji Yasuda Asset Management Co Ltd. grew its holdings 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 during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MANH. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Citigroup decreased their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. 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 note on Wednesday, January 29th. Finally, Loop Capital dropped their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

Insider Activity

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction 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 sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Stock Down 0.8 %

Manhattan Associates stock opened at $173.48 on Monday. The business has a 50 day moving average price of $196.17 and a two-hundred day moving average price of $251.56. Manhattan Associates, Inc. has a 12 month low of $163.10 and a 12 month high of $312.60. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 49.42 and a beta of 1.47.

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.