abrdn plc Boosts Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Posted by on May 24th, 2023

abrdn plc grew its position in Manhattan Associates, Inc. (NASDAQ:MANH – Get Rating) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,057 shares of the software maker’s stock after acquiring an additional 4,400 shares during the quarter. abrdn plc’s holdings in Manhattan Associates were worth $2,921,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MANH. Vanguard Group Inc. grew its stake in shares of Manhattan Associates by 0.5% during the third quarter. Vanguard Group Inc. now owns 6,923,156 shares of the software maker’s stock valued at $920,988,000 after buying an additional 36,944 shares during the last quarter. BlackRock Inc. increased its stake in Manhattan Associates by 2.9% in the 3rd quarter. BlackRock Inc. now owns 6,275,950 shares of the software maker’s stock worth $834,890,000 after buying an additional 179,044 shares during the period. Neuberger Berman Group LLC lifted its holdings in Manhattan Associates by 4.0% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,718,477 shares of the software maker’s stock valued at $361,640,000 after buying an additional 105,514 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in Manhattan Associates by 3.8% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,710,825 shares of the software maker’s stock valued at $360,621,000 after buying an additional 98,463 shares during the period. Finally, State Street Corp increased its position in shares of Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 1,697,165 shares of the software maker’s stock worth $225,774,000 after acquiring an additional 10,795 shares during the period. Institutional investors own 96.92% of the company’s stock.

Manhattan Associates Trading Down 3.0 %

Shares of MANH stock opened at $172.47 on Wednesday. The company has a market cap of $10.70 billion, a PE ratio of 79.11 and a beta of 1.58. Manhattan Associates, Inc. has a 12-month low of $106.02 and a 12-month high of $179.73. The business’s fifty day simple moving average is $159.39 and its 200-day simple moving average is $139.52.

Insiders Place Their Bets

In related news, SVP Bruce Richards sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $170.00, for a total transaction of $1,020,000.00. Following the sale, the senior vice president now directly owns 36,022 shares of the company’s stock, valued at $6,123,740. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Manhattan Associates news, CFO Dennis B. Story sold 32,125 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $167.77, for a total value of $5,389,611.25. Following the completion of the transaction, the chief financial officer now owns 92,992 shares in the company, valued at $15,601,267.84. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Bruce Richards sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $170.00, for a total value of $1,020,000.00. Following the sale, the senior vice president now owns 36,022 shares in the company, valued at $6,123,740. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,125 shares of company stock valued at $7,567,261. Company insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on MANH shares. DA Davidson raised their price target on Manhattan Associates from $145.00 to $160.00 in a research note on Wednesday, April 26th. StockNews.com started coverage on shares of Manhattan Associates in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Rosenblatt Securities increased their target price on Manhattan Associates from $150.00 to $160.00 in a research report on Wednesday, April 26th. Finally, Robert W. Baird boosted their price target on Manhattan Associates from $168.00 to $184.00 in a research report on Wednesday, April 26th.

Manhattan Associates Company Profile

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Manhattan Associates, Inc engages in developing, selling, deploying, servicing, and maintaining software solutions. Its solutions focus on supply chains, inventory, and omnichannel for retailers, wholesalers, manufacturers, logistics providers and other organizations. It operates through the following geographical segments: The Americas, Europe, Middle East and Africa, and Asia Pacific.

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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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