Virtue Capital Management LLC Makes New $248,000 Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Virtue Capital Management LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 919 shares of the software maker’s stock, valued at approximately $248,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Twin Tree Management LP acquired a new position in shares of Manhattan Associates in the 4th quarter valued at about $25,000. Whipplewood Advisors LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at about $34,000. Synergy Asset Management LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at about $35,000. Transce3nd LLC acquired a new position in shares of Manhattan Associates in the 4th quarter valued at about $41,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Manhattan Associates in the 4th quarter valued at about $72,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $185.23 on Tuesday. The stock has a market capitalization of $11.25 billion, a PE ratio of 52.77 and a beta of 1.13. Manhattan Associates, Inc. has a 12 month low of $140.81 and a 12 month high of $312.60. The business has a 50 day simple moving average of $174.47 and a 200-day simple moving average of $219.72.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MANH. Piper Sandler decreased their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. DA Davidson boosted their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, May 21st. Robert W. Baird set a $212.00 price objective on Manhattan Associates and gave the company an “outperform” rating in a report on Wednesday, May 21st. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Finally, Citigroup lowered 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 investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.14.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. The trade was a 2.68% decrease in their ownership of the stock. The sale 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 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.