Manhattan Associates, Inc. (NASDAQ:MANH) Stake Boosted by KBC Group NV

KBC Group NV increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 232.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,201 shares of the software maker’s stock after acquiring an additional 65,846 shares during the period. KBC Group NV owned about 0.15% of Manhattan Associates worth $25,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MANH. Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC acquired a new stake in shares of Manhattan Associates in the third quarter worth about $42,000. Carolina Wealth Advisors LLC bought a new stake in shares of Manhattan Associates during the 3rd quarter worth about $50,000. Brooklyn Investment Group acquired a new position in shares of Manhattan Associates during the 3rd quarter valued at about $58,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new position in shares of Manhattan Associates during the 3rd quarter valued at about $63,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Up 2.4 %

Shares of MANH opened at $295.10 on Wednesday. The stock’s 50-day moving average price is $283.17 and its 200 day moving average price is $272.29. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 83.84 and a beta of 1.52. Manhattan Associates, Inc. has a 12-month low of $205.12 and a 12-month high of $312.60.

Insider Transactions at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on 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 $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MANH. DA Davidson upped their target price on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird boosted 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. Raymond James raised their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Piper Sandler initiated coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price for the company. Finally, Citigroup decreased their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $292.56.

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.