Assetmark Inc. Increases Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Assetmark Inc. raised its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,021 shares of the software maker’s stock after purchasing an additional 572 shares during the quarter. Assetmark Inc.’s holdings in Manhattan Associates were worth $2,708,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in MANH. QRG Capital Management Inc. boosted its holdings in Manhattan Associates by 3.4% in the 3rd quarter. QRG Capital Management Inc. now owns 2,653 shares of the software maker’s stock valued at $747,000 after purchasing an additional 86 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates in the 3rd quarter valued at approximately $34,000. Atria Investments Inc boosted its stake in shares of Manhattan Associates by 19.0% during the 3rd quarter. Atria Investments Inc now owns 7,551 shares of the software maker’s stock worth $2,125,000 after acquiring an additional 1,203 shares in the last quarter. Montanaro Asset Management Ltd purchased a new stake in shares of Manhattan Associates during the 3rd quarter worth approximately $7,485,000. Finally, Crossmark Global Holdings Inc. boosted its stake in shares of Manhattan Associates by 13.8% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 4,941 shares of the software maker’s stock worth $1,391,000 after acquiring an additional 598 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $170.73 on Monday. Manhattan Associates, Inc. has a 1 year low of $166.31 and a 1 year high of $312.60. The company has a market capitalization of $10.44 billion, a P/E ratio of 48.64 and a beta of 1.47. The business has a 50 day moving average price of $225.75 and a 200 day moving average price of $260.80.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MANH shares. Piper Sandler reissued an “overweight” rating and set a $268.00 price target (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Raymond James decreased their price target on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 29th. Truist Financial decreased their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Loop Capital decreased their price target on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price 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.