Tokio Marine Asset Management Co. Ltd. Takes $3.89 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Tokio Marine Asset Management Co. Ltd. purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, Holdings Channel reports. The firm purchased 14,394 shares of the software maker’s stock, valued at approximately $3,890,000.

A number of other hedge funds have also recently added to or reduced their stakes in MANH. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates during the 3rd quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the fourth quarter valued at approximately $35,000. Ashton Thomas Securities LLC bought a new stake in Manhattan Associates during the third quarter worth $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at $50,000. Finally, Brooklyn Investment Group bought a new position in shares of Manhattan Associates in the 3rd quarter valued at $58,000. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on MANH shares. Truist Financial dropped their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Citigroup reduced their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. DA Davidson lowered their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Loop Capital decreased their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Down 2.6 %

Shares of NASDAQ:MANH opened at $208.59 on Monday. The business has a fifty day simple moving average of $279.60 and a 200 day simple moving average of $271.88. 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.

Insider Transactions at Manhattan Associates

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

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.