Castleark Management LLC Takes Position in Manhattan Associates, Inc. $MANH

Castleark Management LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,580 shares of the software maker’s stock, valued at approximately $4,071,000. Castleark Management LLC owned approximately 0.05% of Manhattan Associates as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Manhattan Associates by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock worth $305,199,000 after purchasing an additional 88,005 shares during the period. MUFG Securities EMEA plc acquired a new stake in shares of Manhattan Associates during the 4th quarter worth about $6,066,000. John G Ullman & Associates Inc. purchased a new stake in Manhattan Associates in the 4th quarter valued at about $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in Manhattan Associates by 30.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock valued at $32,505,000 after buying an additional 43,955 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Manhattan Associates by 771.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 63,117 shares of the software maker’s stock valued at $10,939,000 after buying an additional 55,877 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Eric Andrew Clark sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $146.77, for a total transaction of $146,770.00. Following the transaction, the chief executive officer owned 92,638 shares in the company, valued at $13,596,479.26. This trade represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.84% of the company’s stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $159.29 on Tuesday. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $229.57. The stock has a market cap of $9.43 billion, a PE ratio of 44.62 and a beta of 0.97. The stock’s fifty day moving average is $146.29 and its two-hundred day moving average is $144.87.

Analyst Ratings Changes

MANH has been the subject of several research reports. Barclays dropped their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a report on Friday, May 29th. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. DA Davidson restated a “buy” rating and set a $200.00 price target on shares of Manhattan Associates in a research report on Wednesday, May 20th. Robert W. Baird boosted their price objective on Manhattan Associates from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Finally, Rothschild & Co Redburn set a $145.00 target price on Manhattan Associates in a research note on Thursday, April 16th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $201.00.

Manhattan Associates Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.