Synergy Asset Management LLC Buys New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, HoldingsChannel reports. The firm purchased 123 shares of the software maker’s stock, valued at approximately $35,000.

A number of other hedge funds have also modified their holdings of MANH. Algert Global LLC boosted its position in Manhattan Associates by 26.8% in the second quarter. Algert Global LLC now owns 2,435 shares of the software maker’s stock valued at $601,000 after buying an additional 514 shares during the last quarter. Creative Planning lifted its stake in Manhattan Associates by 8.7% during the 2nd quarter. Creative Planning now owns 7,279 shares of the software maker’s stock valued at $1,796,000 after acquiring an additional 583 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Manhattan Associates by 12.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,559 shares of the software maker’s stock worth $631,000 after acquiring an additional 274 shares during the period. Cetera Investment Advisers raised its holdings in shares of Manhattan Associates by 9.0% during the second quarter. Cetera Investment Advisers now owns 4,240 shares of the software maker’s stock worth $1,046,000 after purchasing an additional 349 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in Manhattan Associates during the second quarter valued at $1,395,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MANH. DA Davidson cut their price target on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Wednesday. Raymond James reduced their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup lowered their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research report on Monday, January 27th. Piper Sandler reaffirmed an “overweight” rating and set a $268.00 target price (down from $326.00) on shares of Manhattan Associates in a report on Wednesday. Finally, Robert W. Baird increased their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $273.33.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Down 2.6 %

NASDAQ:MANH opened at $208.59 on Friday. The stock has a 50 day moving average of $279.60 and a two-hundred day moving average of $271.32. Manhattan Associates, Inc. has a 12 month low of $205.12 and a 12 month high of $312.60. The firm has a market cap of $12.74 billion, a P/E ratio of 59.43 and a beta of 1.52.

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.