Allstate Corp Makes New $455,000 Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Allstate Corp purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,682 shares of the software maker’s stock, valued at approximately $455,000.

A number of other institutional investors have also made changes to their positions in MANH. Twin Tree Management LP bought a new stake in Manhattan Associates during the 4th quarter valued at approximately $25,000. Whipplewood Advisors LLC acquired a new position in shares of Manhattan Associates during the fourth quarter worth approximately $34,000. Synergy Asset Management LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter worth $35,000. Bank of Jackson Hole Trust acquired a new stake in shares of Manhattan Associates in the fourth quarter worth $72,000. Finally, EverSource Wealth Advisors LLC raised its stake in Manhattan Associates by 144.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock valued at $83,000 after purchasing an additional 182 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MANH has been the topic of several research analyst reports. Truist Financial decreased their price target 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. Citigroup decreased their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Piper Sandler cut their price target on Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a report on Friday, March 14th. DA Davidson upgraded Manhattan Associates to a “strong-buy” rating in a research report on Monday, March 24th. Finally, Loop Capital lowered their price objective on Manhattan Associates from $310.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.78.

Insider Buying and Selling

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $170.83, for a total transaction of $476,274.04. Following the sale, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $174.76 on Wednesday. Manhattan Associates, Inc. has a 52-week low of $163.10 and a 52-week high of $312.60. The business has a fifty day moving average of $192.01 and a two-hundred day moving average of $250.29. The stock has a market cap of $10.68 billion, a PE ratio of 49.79 and a beta of 1.47.

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.