Manhattan Associates, Inc. (NASDAQ:MANH) Stake Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 1,560.1% in the 1st quarter, HoldingsChannel reports. The firm owned 98,359 shares of the software maker’s stock after purchasing an additional 92,434 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Manhattan Associates were worth $17,020,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. AustralianSuper Pty Ltd lifted its holdings in shares of Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after buying an additional 210,929 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Manhattan Associates in the 4th quarter worth about $1,200,000. Skandinaviska Enskilda Banken AB publ increased its position in Manhattan Associates by 3.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 438,760 shares of the software maker’s stock worth $118,974,000 after purchasing an additional 15,851 shares during the last quarter. Fisher Asset Management LLC increased its position in Manhattan Associates by 126.2% in the 4th quarter. Fisher Asset Management LLC now owns 99,236 shares of the software maker’s stock worth $26,818,000 after purchasing an additional 55,362 shares during the last quarter. Finally, Prudential PLC increased its holdings in shares of Manhattan Associates by 40.0% during the 4th quarter. Prudential PLC now owns 23,936 shares of the software maker’s stock valued at $6,468,000 after acquiring an additional 6,835 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Truist Financial increased their price objective on Manhattan Associates from $190.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 22nd. Redburn Atlantic downgraded Manhattan Associates from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $270.00 to $200.00 in a research report on Tuesday. Citigroup reduced their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Piper Sandler cut their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. Finally, DA Davidson raised their target price on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $208.88.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $189.31 on Friday. The stock has a fifty day moving average of $180.56 and a 200-day moving average of $211.91. The stock has a market capitalization of $11.49 billion, a P/E ratio of 53.93 and a beta of 1.08. Manhattan Associates, Inc. has a 52 week low of $140.81 and a 52 week high of $312.60.

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.