Davidson Capital Management Inc. Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Davidson Capital Management Inc. acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 11,718 shares of the software maker’s stock, valued at approximately $2,028,000.

Several other hedge funds have also modified their holdings of MANH. Twin Tree Management LP purchased a new position in Manhattan Associates during the fourth quarter worth approximately $25,000. Whipplewood Advisors LLC acquired a new stake in shares of Manhattan Associates during the 4th quarter worth $34,000. Central Pacific Bank Trust Division raised its position in shares of Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker’s stock worth $34,000 after buying an additional 103 shares during the period. Park Square Financial Group LLC acquired a new position in Manhattan Associates in the fourth quarter valued at $38,000. Finally, Transce3nd LLC purchased a new stake in Manhattan Associates during the fourth quarter valued at about $41,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MANH has been the topic of a number of research reports. Redburn Atlantic downgraded Manhattan Associates from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $270.00 to $200.00 in a report on Tuesday, June 10th. Citigroup decreased their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Piper Sandler cut their target price 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. Robert W. Baird set a $212.00 target price on shares of Manhattan Associates and gave the company an “outperform” rating in a report on Wednesday, May 21st. Finally, Loop Capital reiterated a “hold” rating and issued a $170.00 price target (down from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average target price of $208.88.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $188.50 on Thursday. Manhattan Associates, Inc. has a 12-month low of $140.81 and a 12-month high of $312.60. The company has a market capitalization of $11.45 billion, a price-to-earnings ratio of 53.86 and a beta of 1.08. The firm’s fifty day moving average price is $182.48 and its 200 day moving average price is $209.92.

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.