Meiji Yasuda Asset Management Co Ltd. Boosts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Meiji Yasuda Asset Management Co Ltd. grew its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,510 shares of the software maker’s stock after purchasing an additional 63 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Manhattan Associates were worth $678,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in Manhattan Associates in the 4th quarter worth approximately $3,890,000. GDS Wealth Management increased its stake in shares of Manhattan Associates by 281.4% in the fourth quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares during the period. Oak Thistle LLC purchased a new position in shares of Manhattan Associates during the fourth quarter worth $1,326,000. AustralianSuper Pty Ltd lifted its position in Manhattan Associates by 968.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after purchasing an additional 210,929 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Manhattan Associates in the fourth quarter valued at $1,200,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 0.5 %

Shares of NASDAQ MANH opened at $174.82 on Friday. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 49.81 and a beta of 1.47. The company’s 50-day simple moving average is $198.17 and its 200-day simple moving average is $252.30. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their price objective on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating for the company in a report on Tuesday, March 18th. Citigroup decreased their price target on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Piper Sandler lowered their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a research 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 report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Insider Buying and Selling

In other news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates 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 sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Company 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.