Sumitomo Mitsui DS Asset Management Company Ltd Has $1.74 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 31.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,430 shares of the software maker’s stock after purchasing an additional 1,520 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Manhattan Associates were worth $1,738,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MANH. State Street Corp grew its stake in Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after buying an additional 12,787 shares during the last quarter. FMR LLC boosted 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 worth $539,521,000 after acquiring an additional 130,817 shares in the last quarter. Geode Capital Management LLC grew its position in Manhattan Associates by 5.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after acquiring an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in Manhattan Associates in the 3rd quarter valued at $234,249,000. 98.45% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MANH has been the topic of several research analyst reports. DA Davidson decreased their target price on Manhattan Associates from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Loop Capital decreased their price objective on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $268.00 price objective (down previously from $326.00) on shares of Manhattan Associates in a research report on Wednesday, January 29th. Truist Financial reduced their target price on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $273.33.

Manhattan Associates Price Performance

MANH opened at $177.70 on Tuesday. The firm has a 50 day simple moving average of $268.55 and a 200 day simple moving average of $270.39. Manhattan Associates, Inc. has a fifty-two week low of $177.12 and a fifty-two week high of $312.60. The company has a market cap of $10.85 billion, a price-to-earnings ratio of 50.63 and a beta of 1.50.

Insiders Place Their Bets

In other news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.