Fox Run Management L.L.C. Raises Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Fox Run Management L.L.C. increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 16.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,937 shares of the software maker’s stock after purchasing an additional 410 shares during the period. Fox Run Management L.L.C.’s holdings in Manhattan Associates were worth $794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MANH. Twin Tree Management LP purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $25,000. Whipplewood Advisors LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $34,000. Synergy Asset Management LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $35,000. Brooklyn Investment Group purchased a new position in shares of Manhattan Associates during the third quarter valued at approximately $58,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $72,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

MANH opened at $171.08 on Monday. The firm has a market cap of $10.46 billion, a P/E ratio of 48.74 and a beta of 1.47. Manhattan Associates, Inc. has a 1-year low of $163.10 and a 1-year high of $312.60. The company has a 50 day simple moving average of $205.73 and a two-hundred day simple moving average of $254.41.

Insiders Place Their Bets

In related news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now owns 101,263 shares in the company, valued at approximately $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MANH shares. Citigroup decreased their price objective on shares of Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Loop Capital cut their target price on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Piper Sandler cut their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. DA Davidson cut their target price on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Finally, Truist Financial cut their target price on shares of Manhattan Associates from $310.00 to $285.00 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 and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

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.