Arizona State Retirement System Grows Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Arizona State Retirement System lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,769 shares of the software maker’s stock after purchasing an additional 129 shares during the quarter. Arizona State Retirement System’s holdings in Manhattan Associates were worth $4,802,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Manhattan Associates in the fourth quarter worth about $11,904,000. Atria Investments Inc raised its stake in shares of Manhattan Associates by 12.7% in the fourth quarter. Atria Investments Inc now owns 8,509 shares of the software maker’s stock worth $2,299,000 after purchasing an additional 958 shares during the last quarter. Assetmark Inc. raised its stake in shares of Manhattan Associates by 6.1% in the fourth quarter. Assetmark Inc. now owns 10,021 shares of the software maker’s stock worth $2,708,000 after purchasing an additional 572 shares during the last quarter. Crew Capital Management Ltd. grew its holdings in Manhattan Associates by 2.9% during the fourth quarter. Crew Capital Management Ltd. now owns 4,087 shares of the software maker’s stock worth $1,104,000 after acquiring an additional 115 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Manhattan Associates by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 403,889 shares of the software maker’s stock worth $109,147,000 after acquiring an additional 1,735 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. DA Davidson dropped their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Truist Financial dropped 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, January 29th. Piper Sandler restated an “overweight” rating and issued a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, Loop Capital cut their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $273.33.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $170.73 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $166.31 and a fifty-two week high of $312.60. The stock’s fifty day moving average is $225.75 and its two-hundred day moving average is $260.81. The firm has a market capitalization of $10.44 billion, a P/E ratio of 48.64 and a beta of 1.47.

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.