New Age Alpha Advisors LLC Invests $3.52 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

New Age Alpha Advisors LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,008 shares of the software maker’s stock, valued at approximately $3,515,000.

Several other large investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP acquired a new stake in shares of Manhattan Associates during the fourth quarter worth $25,000. Synergy Asset Management LLC bought a new stake in shares of Manhattan Associates during the 4th quarter valued at about $35,000. Whipplewood Advisors LLC bought a new position in Manhattan Associates in the fourth quarter worth about $34,000. Brooklyn Investment Group bought a new position in Manhattan Associates in the third quarter worth about $58,000. Finally, Bank of Jackson Hole Trust acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $72,000. 98.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value 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. The trade was a 2.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Trading Down 0.8 %

Shares of NASDAQ:MANH opened at $173.48 on Friday. Manhattan Associates, Inc. has a twelve month low of $163.10 and a twelve month high of $312.60. The firm has a market cap of $10.60 billion, a P/E ratio of 49.42 and a beta of 1.47. The company has a 50 day moving average of $196.17 and a 200-day moving average of $251.73.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MANH. DA Davidson upgraded Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Raymond James decreased 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. Finally, Loop Capital cut their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $243.78.

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.