MetLife Investment Management LLC Acquires 2,688 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

MetLife Investment Management LLC grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,132 shares of the software maker’s stock after purchasing an additional 2,688 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Manhattan Associates worth $10,035,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of MANH. Vanguard Group Inc. grew its position in Manhattan Associates by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,702,557 shares of the software maker’s stock valued at $1,811,299,000 after acquiring an additional 50,538 shares during the period. FMR LLC grew its holdings in shares of Manhattan Associates by 16.2% in the 4th quarter. FMR LLC now owns 2,227,669 shares of the software maker’s stock worth $602,005,000 after purchasing an additional 310,257 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock valued at $517,917,000 after purchasing an additional 578,295 shares during the last quarter. Invesco Ltd. grew its stake in Manhattan Associates by 3.1% during the fourth quarter. Invesco Ltd. now owns 1,861,160 shares of the software maker’s stock worth $502,960,000 after buying an additional 55,334 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Manhattan Associates by 101.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock worth $452,321,000 after buying an additional 841,276 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates 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 trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MANH shares. Citigroup decreased their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. William Blair raised Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Piper Sandler reduced their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research report on Friday, March 14th. Truist Financial reduced their target price on shares of Manhattan Associates from $285.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Loop Capital reissued a “hold” rating and issued a $170.00 price target (down previously from $275.00) on shares of Manhattan Associates in a report on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus target price of $212.67.

Manhattan Associates Trading Down 1.9 %

NASDAQ:MANH opened at $160.51 on Tuesday. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 45.73 and a beta of 1.36. Manhattan Associates, Inc. has a 1-year low of $140.81 and a 1-year high of $312.60. The business’s 50-day moving average price is $170.65 and its two-hundred day moving average price is $237.21.

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.