Siemens Fonds Invest GmbH Takes $379,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Siemens Fonds Invest GmbH purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,404 shares of the software maker’s stock, valued at approximately $379,000.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Loop Capital restated a “hold” rating and set a $170.00 price objective (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. Robert W. Baird dropped 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. Citigroup reduced their price target on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Finally, Piper Sandler decreased their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $205.57.

Insider Transactions at Manhattan Associates

In related 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 completion of the sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.88% of the company’s stock.

Manhattan Associates Stock Up 0.7%

Manhattan Associates stock opened at $194.49 on Friday. The company has a fifty day simple moving average of $172.36 and a 200-day simple moving average of $223.60. The firm has a market capitalization of $11.81 billion, a price-to-earnings ratio of 55.41 and a beta of 1.13. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60.

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.