Premier Fund Managers Ltd Has $54.22 Million Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Premier Fund Managers Ltd decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 20.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the software maker’s stock after selling 50,000 shares during the quarter. Manhattan Associates comprises approximately 1.9% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 17th biggest position. Premier Fund Managers Ltd owned about 0.33% of Manhattan Associates worth $54,216,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Down 0.5 %

Shares of Manhattan Associates stock opened at $174.82 on Friday. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60. The company’s fifty day simple moving average is $198.17 and its two-hundred day simple moving average is $252.30. The company has a market cap of $10.69 billion, a P/E ratio of 49.81 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup cut their target price on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Raymond James cut their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Truist Financial reduced their price objective on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Finally, DA Davidson raised shares of Manhattan Associates to a “strong-buy” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average target price of $243.78.

About Manhattan Associates

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.