Manhattan Associates, Inc. (NASDAQ:MANH) Stock Position Increased by Blue Trust Inc.

Blue Trust Inc. grew its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 48.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,090 shares of the software maker’s stock after buying an additional 682 shares during the period. Blue Trust Inc.’s holdings in Manhattan Associates were worth $588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. First Citizens Bank & Trust Co. grew its holdings in Manhattan Associates by 71.2% in the 4th quarter. First Citizens Bank & Trust Co. now owns 1,628 shares of the software maker’s stock worth $440,000 after buying an additional 677 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Manhattan Associates by 255.2% during the 4th quarter. Geneos Wealth Management Inc. now owns 309 shares of the software maker’s stock worth $84,000 after acquiring an additional 222 shares during the period. McGlone Suttner Wealth Management Inc. grew its stake in shares of Manhattan Associates by 8.3% in the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after purchasing an additional 62 shares in the last quarter. Lifestyle Asset Management Inc. acquired a new position in shares of Manhattan Associates during the fourth quarter valued at $898,000. Finally, Inspire Investing LLC raised its stake in shares of Manhattan Associates by 1.3% during the fourth quarter. Inspire Investing LLC now owns 6,677 shares of the software maker’s stock valued at $1,804,000 after purchasing an additional 85 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $214.14 on Friday. The firm has a market cap of $13.08 billion, a price-to-earnings ratio of 60.84 and a beta of 1.52. Manhattan Associates, Inc. has a 1 year low of $205.12 and a 1 year high of $312.60. The firm’s 50 day moving average price is $281.04 and its two-hundred day moving average price is $271.55.

Analysts Set New Price Targets

MANH has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James decreased their price objective on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday. DA Davidson dropped their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday. Truist Financial cut their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $268.00 price target (down from $326.00) on shares of Manhattan Associates in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $273.33.

Insider Buying and Selling

In other news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.