CIBC Asset Management Inc Grows Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

CIBC Asset Management Inc grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,895 shares of the software maker’s stock after acquiring an additional 97 shares during the quarter. CIBC Asset Management Inc’s holdings in Manhattan Associates were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fidelis Capital Partners LLC increased its stake in Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after purchasing an additional 40 shares during the period. Ascent Group LLC increased its stake in shares of Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after buying an additional 41 shares during the period. Huntington National Bank increased its stake in shares of Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after buying an additional 49 shares during the period. McGlone Suttner Wealth Management Inc. increased its stake in shares of Manhattan Associates by 8.3% during the fourth quarter. McGlone Suttner Wealth Management Inc. now owns 813 shares of the software maker’s stock valued at $220,000 after buying an additional 62 shares during the period. Finally, Greenwood Capital Associates LLC increased its stake in shares of Manhattan Associates by 2.1% during the third quarter. Greenwood Capital Associates LLC now owns 3,183 shares of the software maker’s stock valued at $896,000 after buying an additional 66 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $182.51 on Friday. The company has a market cap of $11.16 billion, a PE ratio of 52.00 and a beta of 1.50. The business has a 50-day simple moving average of $247.68 and a two-hundred day simple moving average of $266.18. Manhattan Associates, Inc. has a fifty-two week low of $169.94 and a fifty-two week high of $312.60.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was 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 approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MANH shares. Citigroup cut their price target on Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Truist Financial cut their price target on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $268.00 target price (down previously from $326.00) on shares of Manhattan Associates in a research note on Wednesday, January 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $273.33.

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.