Mediolanum International Funds Ltd Buys 11,765 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Mediolanum International Funds Ltd raised its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 58.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,807 shares of the software maker’s stock after acquiring an additional 11,765 shares during the quarter. Mediolanum International Funds Ltd owned about 0.05% of Manhattan Associates worth $8,603,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Synergy Asset Management LLC bought a new position in shares of Manhattan Associates during the fourth quarter worth approximately $35,000. Swedbank AB grew its holdings in Manhattan Associates by 1,840.3% in the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after buying an additional 350,000 shares in the last quarter. Smith Group Asset Management LLC increased its position in Manhattan Associates by 1.8% during the 4th quarter. Smith Group Asset Management LLC now owns 93,232 shares of the software maker’s stock worth $25,195,000 after buying an additional 1,641 shares during the period. R Squared Ltd acquired a new stake in shares of Manhattan Associates during the fourth quarter worth $219,000. Finally, Pacer Advisors Inc. boosted its position in shares of Manhattan Associates by 107.0% in the fourth quarter. Pacer Advisors Inc. now owns 30,187 shares of the software maker’s stock valued at $8,158,000 after acquiring an additional 15,607 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $208.59 on Friday. Manhattan Associates, Inc. has a 52 week low of $205.12 and a 52 week high of $312.60. The stock has a market capitalization of $12.74 billion, a P/E ratio of 59.43 and a beta of 1.52. The stock has a fifty day moving average of $279.60 and a 200-day moving average of $271.32.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Robert W. Baird lifted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Loop Capital dropped their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Truist Financial reduced their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.33.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on Friday, November 29th. The shares were 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 owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.