Quantinno Capital Management LP Acquires 599 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Quantinno Capital Management LP boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,970 shares of the software maker’s stock after acquiring an additional 599 shares during the quarter. Quantinno Capital Management LP owned 0.09% of Manhattan Associates worth $14,315,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Manhattan Associates by 101.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after acquiring an additional 841,276 shares during the period. Norges Bank acquired a new position in shares of Manhattan Associates during the 4th quarter valued at $201,377,000. JPMorgan Chase & Co. lifted its position 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 valued at $284,169,000 after acquiring an additional 687,933 shares during the period. Franklin Resources Inc. lifted its position in shares of Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after acquiring an additional 578,295 shares during the period. Finally, Lazard Asset Management LLC lifted its position in shares of Manhattan Associates by 2,075.5% during the 4th quarter. Lazard Asset Management LLC now owns 399,066 shares of the software maker’s stock valued at $107,842,000 after acquiring an additional 380,722 shares during the period. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $194.20 on Thursday. The company has a market capitalization of $11.79 billion, a PE ratio of 55.33 and a beta of 1.13. The company has a 50-day simple moving average of $171.28 and a two-hundred day simple moving average of $225.03. Manhattan Associates, Inc. has a one year low of $140.81 and a one year high of $312.60.

Insider Transactions at Manhattan Associates

In related 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 value of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Robert W. Baird lowered their target price on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Loop Capital reiterated a “hold” rating and set a $170.00 target price (down from $275.00) on shares of Manhattan Associates in a research report on Thursday, April 10th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Raymond James reduced their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, DA Davidson upped their price target on shares of Manhattan Associates from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $205.57.

About Manhattan Associates

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.