Raymond James Financial Inc. Makes New $49.42 Million Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Raymond James Financial Inc. bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, HoldingsChannel.com reports. The firm bought 182,860 shares of the software maker’s stock, valued at approximately $49,416,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Manhattan Associates during the 4th quarter worth approximately $3,890,000. GDS Wealth Management lifted its holdings in shares of Manhattan Associates by 281.4% during the 4th quarter. GDS Wealth Management now owns 6,347 shares of the software maker’s stock worth $1,715,000 after acquiring an additional 4,683 shares during the period. Oak Thistle LLC bought a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $1,326,000. AustralianSuper Pty Ltd lifted its holdings in shares of Manhattan Associates by 968.0% during the 4th quarter. AustralianSuper Pty Ltd now owns 232,719 shares of the software maker’s stock worth $62,890,000 after acquiring an additional 210,929 shares during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Manhattan Associates during the 4th quarter worth approximately $1,200,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MANH shares. William Blair raised shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Citigroup cut their price target on shares of Manhattan Associates from $306.00 to $303.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Truist Financial cut their price target on shares of Manhattan Associates from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Loop Capital cut their price target on shares of Manhattan Associates from $310.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, DA Davidson dropped their price objective on shares of Manhattan Associates from $315.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $273.33.

Insider Activity

In other news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were 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 owns 101,263 shares of the company’s stock, valued at approximately $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $167.52 on Wednesday. The firm has a 50 day simple moving average of $221.59 and a 200 day simple moving average of $259.47. The company has a market cap of $10.24 billion, a price-to-earnings ratio of 47.73 and a beta of 1.47. Manhattan Associates, Inc. has a one year low of $164.48 and a one year high of $312.60.

Manhattan Associates Company 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.