Manhattan Associates, Inc. (NASDAQ:MANH) Stock Position Lifted by Smith Group Asset Management LLC

Smith Group Asset Management LLC grew its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,232 shares of the software maker’s stock after acquiring an additional 1,641 shares during the quarter. Manhattan Associates makes up approximately 1.9% of Smith Group Asset Management LLC’s holdings, making the stock its 22nd largest position. Smith Group Asset Management LLC’s holdings in Manhattan Associates were worth $25,195,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in Manhattan Associates in the third quarter worth $34,000. Ashton Thomas Securities LLC bought a new position in shares of Manhattan Associates in the 3rd quarter worth about $42,000. Carolina Wealth Advisors LLC acquired a new position in shares of Manhattan Associates in the 3rd quarter valued at about $50,000. Brooklyn Investment Group acquired a new position in shares of Manhattan Associates in the 3rd quarter valued at about $58,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $63,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MANH has been the topic of a number of recent research reports. Citigroup decreased their target price on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research note on Monday. Truist Financial boosted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Raymond James increased their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. DA Davidson boosted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird upped their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $292.56.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $295.10 on Wednesday. Manhattan Associates, Inc. has a 12-month low of $205.12 and a 12-month high of $312.60. The stock has a market capitalization of $18.02 billion, a PE ratio of 83.84 and a beta of 1.52. The firm has a 50 day simple moving average of $283.17 and a 200-day simple moving average of $272.29.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction dated 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 transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’s 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 sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.