Gallacher Capital Management LLC Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Gallacher Capital Management LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 887 shares of the software maker’s stock, valued at approximately $240,000.

A number of other hedge funds also recently bought and sold shares of MANH. Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates during the third quarter worth $234,249,000. JPMorgan Chase & Co. lifted its holdings in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Manhattan Associates by 275.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after purchasing an additional 357,172 shares during the last quarter. Swedbank AB lifted its holdings in shares of Manhattan Associates by 1,840.3% during the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after purchasing an additional 350,000 shares during the last quarter. Finally, AustralianSuper Pty Ltd lifted its holdings in shares of Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after purchasing an additional 210,929 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Truist Financial decreased their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Raymond James decreased their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler cut their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Loop Capital cut their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $252.56.

Manhattan Associates Stock Up 5.5 %

NASDAQ:MANH opened at $172.50 on Monday. Manhattan Associates, Inc. has a 52 week low of $163.10 and a 52 week high of $312.60. The stock has a market capitalization of $10.54 billion, a PE ratio of 49.15 and a beta of 1.47. The stock’s 50-day moving average price is $215.40 and its 200-day moving average price is $257.50.

Insider Activity at Manhattan Associates

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

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.