Caisse Des Depots ET Consignations Buys New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Caisse Des Depots ET Consignations purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 6,649 shares of the software maker’s stock, valued at approximately $1,797,000.

Several other hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after buying an additional 687,933 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Manhattan Associates by 275.6% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after acquiring an additional 357,172 shares during the period. Swedbank AB boosted its stake in Manhattan Associates by 1,840.3% during the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock worth $99,724,000 after acquiring an additional 350,000 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after purchasing an additional 210,929 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Manhattan Associates in the fourth quarter valued at $49,416,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Price Performance

Shares of MANH stock opened at $174.82 on Friday. The firm has a 50-day moving average of $198.17 and a 200-day moving average of $252.30. Manhattan Associates, Inc. has a one year low of $163.10 and a one year high of $312.60. The company has a market cap of $10.69 billion, a P/E ratio of 49.81 and a beta of 1.47.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

MANH has been the subject of several research reports. Piper Sandler reduced their target price on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research note on Friday, March 14th. Citigroup reduced their price objective on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Raymond James lowered their target price 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. Loop Capital reduced their price target 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. Finally, DA Davidson upgraded shares of Manhattan Associates to a “strong-buy” rating in a report on Monday. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

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.