Jones Financial Companies Lllp Boosts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Jones Financial Companies Lllp boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 212.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 516 shares of the software maker’s stock after purchasing an additional 351 shares during the quarter. Jones Financial Companies Lllp’s holdings in Manhattan Associates were worth $139,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Manhattan Associates by 0.6% in the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after acquiring an additional 12,787 shares during the last quarter. FMR LLC increased its holdings in shares of Manhattan Associates by 7.3% in the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after acquiring an additional 130,817 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Manhattan Associates by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock valued at $426,308,000 after acquiring an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Manhattan Associates in the 3rd quarter valued at approximately $234,249,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $172.50 on Friday. Manhattan Associates, Inc. has a 1 year low of $163.10 and a 1 year high of $312.60. The stock has a fifty day moving average of $215.40 and a two-hundred day moving average of $257.51. The firm has a market capitalization of $10.54 billion, a PE ratio of 49.15 and a beta of 1.47.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. DA Davidson reduced their price objective on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. Piper Sandler reduced their price objective on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. 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 report on Friday. Finally, Truist Financial reduced their price objective on 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $252.56.

Insiders Place Their Bets

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 101,263 shares in the company, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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.