Proficio Capital Partners LLC Invests $11.90 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

Proficio Capital Partners LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 44,049 shares of the software maker’s stock, valued at approximately $11,904,000.

Several other hedge funds have also recently added to or reduced their stakes in MANH. Ascent Group LLC lifted its holdings in shares of Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after buying an additional 41 shares during the last quarter. Huntington National Bank raised its stake in Manhattan Associates by 5.9% during the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after purchasing an additional 49 shares during the last quarter. Kestra Investment Management LLC raised its stake in Manhattan Associates by 2.9% during the 4th quarter. Kestra Investment Management LLC now owns 2,055 shares of the software maker’s stock valued at $555,000 after purchasing an additional 57 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after purchasing an additional 58 shares during the period. Finally, McGlone Suttner Wealth Management Inc. grew its position in Manhattan Associates by 8.3% in the 4th quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock worth $220,000 after purchasing an additional 62 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 1.0 %

Shares of Manhattan Associates stock opened at $176.88 on Monday. The business has a fifty day simple moving average of $236.56 and a 200 day simple moving average of $263.85. Manhattan Associates, Inc. has a 12 month low of $169.94 and a 12 month high of $312.60. The stock has a market cap of $10.81 billion, a PE ratio of 50.39 and a beta of 1.50.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MANH. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Raymond James decreased their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a report on Wednesday, January 29th. Loop Capital cut their target price on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Finally, Citigroup dropped their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $273.33.

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.