Stoneridge Investment Partners LLC purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 8,950 shares of the software maker’s stock, valued at approximately $443,000.
Other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Manhattan Associates in the third quarter worth about $774,000. Atlanta Capital Management Co. L L C lifted its position in shares of Manhattan Associates by 2.9% in the third quarter. Atlanta Capital Management Co. L L C now owns 7,912,766 shares of the software maker’s stock worth $328,933,000 after buying an additional 222,359 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Manhattan Associates by 57.9% in the third quarter. Nordea Investment Management AB now owns 772,265 shares of the software maker’s stock worth $32,103,000 after buying an additional 283,298 shares during the last quarter. Atlantic Trust Group LLC acquired a new stake in shares of Manhattan Associates in the third quarter worth about $1,506,000. Finally, Shell Asset Management Co. lifted its position in shares of Manhattan Associates by 747.1% in the third quarter. Shell Asset Management Co. now owns 115,635 shares of the software maker’s stock worth $3,865,000 after buying an additional 101,985 shares during the last quarter.
Manhattan Associates, Inc. (NASDAQ MANH) opened at $41.88 on Thursday. Manhattan Associates, Inc. has a 12-month low of $40.75 and a 12-month high of $54.21. The firm has a market capitalization of $3,479.06, a PE ratio of 24.93 and a beta of 1.08.
Manhattan Associates declared that its board has authorized a stock repurchase program on Tuesday, February 6th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the software maker to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
A number of analysts have weighed in on the company. BidaskClub raised Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research cut Manhattan Associates from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Finally, KeyCorp reissued a “hold” rating on shares of Manhattan Associates in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Manhattan Associates has an average rating of “Hold” and an average target price of $55.00.
Manhattan Associates Company Profile
Manhattan Associates, Inc (Manhattan) is a developer and provider of supply chain commerce solutions. The Company operates through three geographical segments: the Americas, Europe, Middle East and Africa (EMEA), and the Asia Pacific (APAC). It is engaged in developing, selling, deploying, servicing and maintaining software solutions designed to manage supply chains, inventory and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers and other organizations.
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