Olympiad Research LP Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Olympiad Research LP purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 890 shares of the software maker’s stock, valued at approximately $241,000.

Several other large investors also recently modified their holdings of the business. State Street Corp increased its holdings in shares of Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after acquiring an additional 12,787 shares in the last quarter. FMR LLC increased its holdings in shares of Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after acquiring an additional 130,817 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Manhattan Associates by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after acquiring an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Manhattan Associates in the third quarter worth about $234,249,000. 98.45% of the stock is currently owned by institutional investors.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value 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 trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Piper Sandler reiterated an “overweight” rating and set a $268.00 price objective (down from $326.00) on shares of Manhattan Associates in a report on Wednesday, January 29th. Raymond James decreased their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a report on Wednesday, January 29th. DA Davidson decreased their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Loop Capital decreased their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $182.51 on Monday. The stock has a 50 day moving average price of $247.68 and a 200 day moving average price of $266.37. Manhattan Associates, Inc. has a 52 week low of $169.94 and a 52 week high of $312.60. The stock has a market capitalization of $11.16 billion, a PE ratio of 52.00 and a beta of 1.50.

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.