Twinbeech Capital LP Invests $12.95 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

Twinbeech Capital LP 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 47,918 shares of the software maker’s stock, valued at approximately $12,949,000. Twinbeech Capital LP owned approximately 0.08% of Manhattan Associates as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MANH. JPMorgan Chase & Co. grew its stake in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Manhattan Associates by 21.5% in the fourth quarter. Park Avenue Securities LLC now owns 3,825 shares of the software maker’s stock valued at $1,034,000 after buying an additional 676 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at $436,000. HB Wealth Management LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at $315,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Manhattan Associates by 19.0% in the fourth quarter. Raleigh Capital Management Inc. now owns 526 shares of the software maker’s stock valued at $142,000 after buying an additional 84 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Performance

Shares of MANH opened at $193.06 on Tuesday. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The business’s 50 day moving average price is $172.89 and its two-hundred day moving average price is $222.82. The firm has a market cap of $11.72 billion, a PE ratio of 55.00 and a beta of 1.13.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Robert W. Baird decreased their target price 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. Truist Financial raised their price target on Manhattan Associates from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. DA Davidson raised their price target on Manhattan Associates from $195.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Raymond James cut their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. Finally, Citigroup cut their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.57.

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.