Zions Bancorporation N.A. Acquires 1,408 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Zions Bancorporation N.A. grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,027 shares of the software maker’s stock after acquiring an additional 1,408 shares during the period. Zions Bancorporation N.A.’s holdings in Manhattan Associates were worth $2,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. JPMorgan Chase & Co. lifted its position in Manhattan Associates by 213.7% during 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after buying an additional 357,172 shares during the period. Swedbank AB lifted its position in shares of Manhattan Associates by 1,840.3% during the 4th quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after buying an additional 350,000 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in shares of Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after acquiring an additional 210,929 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $49,416,000. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on MANH. Robert W. Baird lowered their price target on shares of Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a report on Tuesday, March 18th. William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Raymond James lowered their price objective on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 29th. Finally, 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 report on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Insider Activity

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the transaction, the chief financial officer now owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $179.55 on Wednesday. The business’s 50 day moving average price is $202.16 and its 200-day moving average price is $253.38. Manhattan Associates, Inc. has a fifty-two week low of $163.10 and a fifty-two week high of $312.60. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 51.15 and a beta of 1.47.

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.