Rhumbline Advisers Buys 1,388 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Rhumbline Advisers grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 201,979 shares of the software maker’s stock after purchasing an additional 1,388 shares during the quarter. Rhumbline Advisers owned about 0.33% of Manhattan Associates worth $54,583,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its position in shares of Manhattan Associates by 0.6% in the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC grew its position in shares of Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after purchasing an additional 130,817 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Manhattan Associates by 5.8% in the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after purchasing an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Manhattan Associates in the third quarter valued at about $234,249,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Trading Up 1.5 %

NASDAQ:MANH opened at $190.41 on Monday. Manhattan Associates, Inc. has a 1 year low of $169.94 and a 1 year high of $312.60. The firm has a 50 day moving average of $259.20 and a 200-day moving average of $268.38. The stock has a market capitalization of $11.63 billion, a P/E ratio of 54.25 and a beta of 1.50.

Insider Activity

In related news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on MANH. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. DA Davidson decreased their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock 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 on the stock in a report on Wednesday, January 29th. Finally, Citigroup decreased their price objective on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $273.33.

About Manhattan Associates

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.