Renaissance Technologies LLC Has $87.16 Million Stock Position in Manhattan Associates, Inc. $MANH

Renaissance Technologies LLC increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 28.5% during the first quarter, HoldingsChannel reports. The firm owned 654,760 shares of the software maker’s stock after acquiring an additional 145,200 shares during the period. Renaissance Technologies LLC’s holdings in Manhattan Associates were worth $87,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Manhattan Associates by 50.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 546,394 shares of the software maker’s stock worth $72,736,000 after buying an additional 182,225 shares during the period. Caxton Associates LLP raised its holdings in shares of Manhattan Associates by 5.9% during the first quarter. Caxton Associates LLP now owns 14,977 shares of the software maker’s stock valued at $1,994,000 after acquiring an additional 833 shares during the period. Sei Investments Co. raised its holdings in shares of Manhattan Associates by 48.1% during the first quarter. Sei Investments Co. now owns 170,667 shares of the software maker’s stock valued at $22,719,000 after acquiring an additional 55,463 shares during the period. Cetera Investment Advisers lifted its position in shares of Manhattan Associates by 7.7% in the 1st quarter. Cetera Investment Advisers now owns 2,941 shares of the software maker’s stock valued at $392,000 after acquiring an additional 211 shares in the last quarter. Finally, First Citizens Bank & Trust Co. lifted its position in shares of Manhattan Associates by 41.9% in the 1st quarter. First Citizens Bank & Trust Co. now owns 9,692 shares of the software maker’s stock valued at $1,290,000 after acquiring an additional 2,863 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In related news, CEO Eric Andrew Clark sold 1,000 shares of Manhattan Associates stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $146.77, for a total value of $146,770.00. Following the completion of the sale, the chief executive officer owned 92,638 shares of the company’s stock, valued at approximately $13,596,479.26. The trade was a 1.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.84% of the company’s stock.

Manhattan Associates Stock Up 2.9%

NASDAQ MANH opened at $151.67 on Friday. The stock has a market capitalization of $8.97 billion, a PE ratio of 42.48 and a beta of 0.97. The company has a 50 day moving average price of $145.84 and a two-hundred day moving average price of $145.09. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $229.57.

Wall Street Analyst Weigh In

Several research firms have weighed in on MANH. Stifel Nicolaus set a $200.00 price objective on shares of Manhattan Associates in a research report on Wednesday, May 20th. Robert W. Baird increased their target price on Manhattan Associates from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Citigroup raised their target price on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday. Barclays lowered their price target on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, DA Davidson reissued a “buy” rating and issued a $200.00 price objective on shares of Manhattan Associates in a research note on Wednesday, May 20th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.00.

Manhattan Associates Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.