Crestline Management LP Acquires New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Crestline Management LP bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 4,414 shares of the software maker’s stock, valued at approximately $1,193,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Manhattan Associates by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after buying an additional 50,538 shares during the period. FMR LLC boosted its position in Manhattan Associates by 16.2% during the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock valued at $602,005,000 after acquiring an additional 310,257 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Manhattan Associates by 43.2% in the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after acquiring an additional 578,295 shares during the period. Invesco Ltd. increased its holdings in shares of Manhattan Associates by 3.1% in the 4th quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock valued at $502,960,000 after acquiring an additional 55,334 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Manhattan Associates by 101.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after acquiring an additional 841,276 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MANH shares. Loop Capital reaffirmed a “hold” rating and set a $170.00 price objective (down previously from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. DA Davidson lifted their price objective on shares of Manhattan Associates from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Robert W. Baird reduced their price objective on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research note on Tuesday, March 18th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, Citigroup reduced their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $212.38.

Insider Buying and Selling

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 transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $186.86 on Friday. The stock has a 50-day moving average of $169.55 and a two-hundred day moving average of $227.39. The stock has a market cap of $11.35 billion, a P/E ratio of 53.24 and a beta of 1.13. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60.

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.