Pictet Asset Management Holding SA Buys 3,392 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Pictet Asset Management Holding SA lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,910 shares of the software maker’s stock after acquiring an additional 3,392 shares during the quarter. Pictet Asset Management Holding SA owned about 0.06% of Manhattan Associates worth $9,434,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Manhattan Associates by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock worth $1,811,299,000 after purchasing an additional 50,538 shares during the period. State Street Corp boosted its holdings in shares of 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. Geode Capital Management LLC grew its stake in 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 buying an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares during the period. Finally, American Century Companies Inc. lifted its position in Manhattan Associates by 3.3% during the 4th quarter. American Century Companies Inc. now owns 859,054 shares of the software maker’s stock worth $232,151,000 after acquiring an additional 27,774 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on MANH shares. Piper Sandler dropped their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Robert W. Baird lowered their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 18th. Citigroup cut their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Truist Financial decreased 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 report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $178.89 on Thursday. The business has a fifty day moving average of $189.95 and a 200-day moving average of $249.79. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60. The firm has a market cap of $10.93 billion, a PE ratio of 50.97 and a beta of 1.47.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the 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 sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.72% of the company’s stock.

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.