Freedom Investment Management Inc. Purchases 219 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Freedom Investment Management Inc. lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,422 shares of the software maker’s stock after purchasing an additional 219 shares during the period. Freedom Investment Management Inc.’s holdings in Manhattan Associates were worth $654,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Farringdon Capital Ltd. purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $243,000. Marshall Wace LLP purchased a new stake in Manhattan Associates in the fourth quarter worth $816,000. NewEdge Advisors LLC boosted its holdings in Manhattan Associates by 28.6% in the fourth quarter. NewEdge Advisors LLC now owns 1,938 shares of the software maker’s stock valued at $524,000 after acquiring an additional 431 shares in the last quarter. Evergreen Capital Management LLC increased its position in Manhattan Associates by 6.7% during the 4th quarter. Evergreen Capital Management LLC now owns 1,858 shares of the software maker’s stock valued at $502,000 after purchasing an additional 117 shares during the period. Finally, Jump Financial LLC bought a new position in Manhattan Associates in the 4th quarter worth $687,000. 98.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. DA Davidson reduced their price target on shares of Manhattan Associates from $270.00 to $195.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Truist Financial decreased their target price on Manhattan Associates from $285.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, April 14th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a report on Thursday, February 13th. Finally, Piper Sandler dropped their target price on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, March 14th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $212.67.

Insider Transactions at Manhattan Associates

In related news, CFO Dennis B. Story sold 2,788 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $163.57 on Friday. Manhattan Associates, Inc. has a 1 year low of $140.81 and a 1 year high of $312.60. The firm’s 50-day moving average is $171.08 and its 200 day moving average is $238.34. The stock has a market cap of $9.93 billion, a price-to-earnings ratio of 46.60 and a beta of 1.36.

About Manhattan Associates

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.