United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Purchases New Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, Holdings Channel reports. The firm acquired 2,600 shares of the software maker’s stock, valued at approximately $703,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after purchasing an additional 357,172 shares during the period. Swedbank AB raised its position in shares of Manhattan Associates by 1,840.3% in the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock worth $99,724,000 after buying an additional 350,000 shares in the last quarter. AustralianSuper Pty Ltd boosted its stake in Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after buying an additional 210,929 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Manhattan Associates in the 4th quarter worth about $49,416,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Price Performance

MANH opened at $179.55 on Wednesday. The company has a 50 day simple moving average of $202.16 and a two-hundred day simple moving average of $253.38. The firm has a market cap of $10.97 billion, a P/E ratio of 51.15 and a beta of 1.47. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was 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 in the company, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MANH has been the topic of a number of research analyst reports. Citigroup reduced their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. DA Davidson raised Manhattan Associates to a “strong-buy” rating in a report on Monday. Piper Sandler cut their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Raymond James cut their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research note on Wednesday, January 29th. Finally, Robert W. Baird decreased their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 18th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.