Montanaro Asset Management Ltd Has $20.79 Million Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Montanaro Asset Management Ltd lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 189.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,940 shares of the software maker’s stock after purchasing an additional 50,340 shares during the quarter. Manhattan Associates accounts for about 4.3% of Montanaro Asset Management Ltd’s portfolio, making the stock its 5th largest position. Montanaro Asset Management Ltd owned about 0.13% of Manhattan Associates worth $20,792,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in shares of Manhattan Associates during the fourth quarter valued at about $25,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates in the 4th quarter valued at approximately $34,000. Synergy Asset Management LLC acquired a new stake in Manhattan Associates during the 4th quarter worth approximately $35,000. Brooklyn Investment Group bought a new stake in Manhattan Associates during the 3rd quarter worth approximately $58,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates during the fourth quarter valued at $72,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Trading Down 2.2 %

NASDAQ:MANH opened at $175.62 on Thursday. The firm has a fifty day simple moving average of $200.18 and a two-hundred day simple moving average of $252.84. Manhattan Associates, Inc. has a 12 month low of $163.10 and a 12 month high of $312.60. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 50.03 and a beta of 1.47.

Analyst Upgrades and Downgrades

MANH has been the subject of a number of recent research reports. Citigroup decreased their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Truist Financial lowered their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a research note on Monday. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

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.