Ensign Peak Advisors Inc Boosts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Ensign Peak Advisors Inc lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 37.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,554 shares of the software maker’s stock after buying an additional 17,934 shares during the period. Ensign Peak Advisors Inc’s holdings in Manhattan Associates were worth $17,715,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MANH. JPMorgan Chase & Co. boosted its holdings 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 last quarter. PFW Advisors LLC purchased a new stake in Manhattan Associates in the fourth quarter worth approximately $467,000. Accurate Wealth Management LLC boosted its holdings in Manhattan Associates by 35.7% in the fourth quarter. Accurate Wealth Management LLC now owns 3,873 shares of the software maker’s stock worth $1,028,000 after purchasing an additional 1,019 shares during the last quarter. Oak Thistle LLC bought a new stake in Manhattan Associates in the 4th quarter worth approximately $1,326,000. Finally, Kathmere Capital Management LLC raised its stake in Manhattan Associates by 7.8% during the 4th quarter. Kathmere Capital Management LLC now owns 939 shares of the software maker’s stock valued at $254,000 after buying an additional 68 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $184.67 on Monday. The firm’s 50 day simple moving average is $169.82 and its two-hundred day simple moving average is $226.01. The company has a market capitalization of $11.21 billion, a P/E ratio of 52.61 and a beta of 1.13. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.88% of the company’s stock.

Wall Street Analyst Weigh In

MANH has been the topic of a number of research reports. DA Davidson raised their price target on Manhattan Associates from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Robert W. Baird reduced their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a research report on Tuesday, March 18th. Citigroup dropped their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Finally, Raymond James cut their target price on shares of Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $212.38.

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.