Algert Global LLC Invests $248,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Algert Global LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 918 shares of the software maker’s stock, valued at approximately $248,000.

Several other hedge funds also recently made changes to their positions in the business. Metis Global Partners LLC lifted its holdings in shares of Manhattan Associates by 7.0% during the fourth quarter. Metis Global Partners LLC now owns 837 shares of the software maker’s stock worth $226,000 after buying an additional 55 shares in the last quarter. Kestra Investment Management LLC lifted its holdings in shares of Manhattan Associates by 2.9% during the fourth quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock worth $555,000 after buying an additional 57 shares in the last quarter. McGlone Suttner Wealth Management Inc. lifted its holdings in shares of Manhattan Associates by 8.3% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after buying an additional 62 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Manhattan Associates by 2.6% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,510 shares of the software maker’s stock worth $678,000 after buying an additional 63 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Manhattan Associates by 7.8% during the fourth quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker’s stock worth $254,000 after buying an additional 68 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.88% of the company’s stock.

Manhattan Associates Stock Up 6.3%

Manhattan Associates stock opened at $196.00 on Tuesday. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The business’s 50-day moving average price is $170.28 and its two-hundred day moving average price is $225.45. The stock has a market cap of $11.90 billion, a PE ratio of 55.84 and a beta of 1.13.

Wall Street Analyst Weigh In

MANH has been the subject of a number of research reports. Robert W. Baird dropped their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Loop Capital reissued a “hold” rating and set a $170.00 target price (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Raymond James decreased their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, Citigroup decreased 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 analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $212.38.

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.