Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 95.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,781 shares of the software maker’s stock after buying an additional 11,112 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Manhattan Associates were worth $6,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates in the third quarter valued at $234,249,000. 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 valued at $284,169,000 after buying an additional 687,933 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after buying an additional 357,172 shares during the last quarter. Swedbank AB boosted its stake in Manhattan Associates by 1,840.3% during the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock worth $99,724,000 after buying an additional 350,000 shares during the period. Finally, AustralianSuper Pty Ltd increased its position in shares of Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after acquiring an additional 210,929 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

MANH has been the topic of several recent analyst reports. Raymond James decreased their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Truist Financial lowered their price target 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. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Loop Capital decreased their target price on 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 dropped 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $252.56.

Insider Buying and Selling at Manhattan Associates

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 transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by insiders.

Manhattan Associates Trading Up 5.5 %

Shares of MANH opened at $172.50 on Friday. The firm has a market capitalization of $10.54 billion, a price-to-earnings ratio of 49.15 and a beta of 1.47. The firm’s fifty day simple moving average is $217.41 and its 200-day simple moving average is $258.16. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60.

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.