Van ECK Associates Corp Acquires New Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Van ECK Associates Corp bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 13,669 shares of the software maker’s stock, valued at approximately $2,943,000.

Several other large investors also recently added to or reduced their stakes in MANH. Blue Trust Inc. lifted its stake in shares of Manhattan Associates by 259.4% in the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares during the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Manhattan Associates in the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Manhattan Associates during the 4th quarter worth about $26,000. Lindbrook Capital LLC increased its holdings in shares of Manhattan Associates by 28.8% during the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after acquiring an additional 46 shares during the last quarter. Finally, UMB Bank n.a. raised its stake in shares of Manhattan Associates by 25.9% in the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock valued at $61,000 after acquiring an additional 58 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

MANH has been the subject of a number of recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Citigroup lowered their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. Truist Financial boosted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research report on Wednesday, April 24th. Finally, Raymond James boosted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $234.86.

Manhattan Associates Stock Up 1.2 %

Manhattan Associates stock opened at $213.39 on Tuesday. The business has a 50 day moving average price of $239.26 and a two-hundred day moving average price of $227.33. Manhattan Associates, Inc. has a 12 month low of $167.29 and a 12 month high of $266.94. The stock has a market cap of $13.14 billion, a price-to-earnings ratio of 69.74 and a beta of 1.45.

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.