Generali Asset Management SPA SGR Invests $2.78 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

Generali Asset Management SPA SGR bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, Holdings Channel reports. The institutional investor bought 10,293 shares of the software maker’s stock, valued at approximately $2,782,000.

Other large investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Manhattan Associates in the 3rd quarter worth $234,249,000. JPMorgan Chase & Co. grew its position in shares of Manhattan Associates by 213.7% in the third 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 during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Manhattan Associates by 275.6% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock valued at $131,539,000 after purchasing an additional 357,172 shares during the last quarter. Swedbank AB grew its position in shares of Manhattan Associates by 1,840.3% in the fourth quarter. Swedbank AB now owns 369,019 shares of the software maker’s stock valued at $99,724,000 after purchasing an additional 350,000 shares during the last quarter. Finally, AustralianSuper Pty Ltd raised its position in shares of Manhattan Associates by 968.0% in the fourth quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock valued at $62,890,000 after buying an additional 210,929 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Trading Up 1.0 %

Shares of NASDAQ MANH opened at $174.49 on Thursday. The stock has a 50 day simple moving average of $209.62 and a 200-day simple moving average of $255.67. The company has a market cap of $10.67 billion, a PE ratio of 49.71 and a beta of 1.47. Manhattan Associates, Inc. has a 12-month low of $163.10 and a 12-month high of $312.60.

Analyst Ratings Changes

A number of research firms have recently weighed in on MANH. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. 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. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Robert W. Baird cut their target price on Manhattan Associates from $282.00 to $225.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Truist Financial cut their target price on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Insider Transactions at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares in the company, valued at approximately $17,298,758.29. The trade was a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.