KLP Kapitalforvaltning AS Makes New $12.16 Million Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

KLP Kapitalforvaltning AS bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, HoldingsChannel.com reports. The firm bought 45,000 shares of the software maker’s stock, valued at approximately $12,161,000.

A number of other hedge funds also recently bought and sold shares of MANH. Twin Tree Management LP purchased a new stake in Manhattan Associates during the fourth quarter worth $25,000. Whipplewood Advisors LLC purchased a new stake in Manhattan Associates during the fourth quarter worth $34,000. Synergy Asset Management LLC purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at $35,000. Brooklyn Investment Group purchased a new stake in shares of Manhattan Associates during the 3rd quarter valued at $58,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at $72,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MANH. Piper Sandler decreased their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Truist Financial decreased their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company 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. Finally, Citigroup decreased 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

Manhattan Associates Price Performance

Shares of MANH stock opened at $171.08 on Monday. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 48.74 and a beta of 1.47. The business has a fifty day moving average of $205.73 and a 200 day moving average of $254.41. Manhattan Associates, Inc. has a 1 year low of $163.10 and a 1 year high of $312.60.

Insiders Place Their Bets

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the stock in a transaction dated 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 directly 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 is accessible through this link. 0.72% of the stock is owned by insiders.

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.