Schroder Investment Management Group Buys 14,738 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Schroder Investment Management Group boosted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 20.0% in the fourth quarter, Holdings Channel reports. The firm owned 88,541 shares of the software maker’s stock after purchasing an additional 14,738 shares during the period. Schroder Investment Management Group’s holdings in Manhattan Associates were worth $24,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Twin Tree Management LP acquired a new position in shares of Manhattan Associates in the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new position in shares of Manhattan Associates during the 4th quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new position in Manhattan Associates during the fourth quarter worth $35,000. Bank of Jackson Hole Trust bought a new stake in shares of Manhattan Associates in the 4th quarter valued at about $72,000. Finally, EverSource Wealth Advisors LLC raised its stake in Manhattan Associates by 144.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock valued at $83,000 after buying an additional 182 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on MANH. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Citigroup dropped their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Raymond James reduced their price target 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. Piper Sandler reduced their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday, March 14th. Finally, William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average target price of $243.78.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $178.89 on Thursday. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60. The company’s 50 day moving average price is $189.95 and its 200-day moving average price is $249.79. The company has a market capitalization of $10.93 billion, a P/E ratio of 50.97 and a beta of 1.47.

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.