Gallacher Capital Management LLC Buys New Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Gallacher Capital Management LLC purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, HoldingsChannel reports. The fund purchased 887 shares of the software maker’s stock, valued at approximately $240,000.

Other institutional investors have also modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Manhattan Associates in the fourth quarter worth $3,890,000. GDS Wealth Management grew its stake in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Manhattan Associates in the fourth quarter worth $1,326,000. AustralianSuper Pty Ltd grew its stake in shares of Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after acquiring an additional 210,929 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Manhattan Associates in the fourth quarter worth $1,200,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Price Performance

Shares of MANH opened at $172.50 on Monday. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60. The stock has a market cap of $10.54 billion, a PE ratio of 49.15 and a beta of 1.47. The firm has a fifty day moving average price of $215.40 and a 200 day moving average price of $257.50.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. DA Davidson dropped their price target on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Loop Capital decreased their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. 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 research report on Wednesday, January 29th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $252.56.

Manhattan Associates Company 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.