June 1, 2023 marks another milestone for the investment world as Schroder Investment Management Group (Schroders) reveals its move to reduce holdings in Manhattan Associates, Inc. (NASDAQ:MANH). According to the most recent disclosure with the Securities and Exchange Commission (SEC), Schroders ditched 7.6% of its shares in the software maker’s stock during the fourth quarter of the previous year. The action reflected a considerable cutback from 4,129 shares down to 50,281 shares owned by Schroders at that time.
Despite unloading some fraction of its stake with Manhattan Associates, however, SEC reveals that Schroders still owns approximately 0.08% of the company worth $6,104,000 as of its most recent filing with them. This remains a favorable participation for one of the renowned institutional investors known for providing high-quality services to individuals and institutions globally.
One might be wondering about Manhattan Associates’ lead investment prospects following this news. At present, Manhattan Associates Inc is a developer and provider of quality software solutions utilized by various industries worldwide; focusing on supply chains, inventory management, and omnichannel experiences for retailers, wholesalers, manufacturers, logistics providers and other organizations.
Similar to various businesses operating in separate segments across distinct geographical locations spanning Americast through Europe’s Middle East and Africa down through Asia Pacific market territories; MANH exhibits volatile yet stirring market capitalizations over certain periods relying on future financial outcomes and beneficial forecasts prevailing their stock prices.
As if sitting on a roller coaster ride amidst turbulent economic winds slamming across diverse global markets; shares of NASDAQ MANH opened at $181.42 as highlighted above with statistics displaying a year-low ($106.02) and year-high ($181.91), indicative perhaps of presently upbeat predictions among stakeholders,
Seems optimism abounds though since traders may follow up necessary steps based on 50-day moving averages ($163.46) and a 200-day moving average of $142.00, which are vital figures playing significant roles in making calculated investment decisions as the year progresses.
Thus, while Schroders bows out towards selling their stake with Manhattan Associates Inc., it is crucial to note that there still remains some form of confidence within the company’s stock as evidenced by the remaining percentage held by Schorders alone. Nonetheless, actions like this are bound to cause ripples across the market; albeit positive or less otherwise. Only time can tell what follows MANH in-store as traders grapple with weighing factors before maneuvering through efficient trade deals that could dominate industry moves throughout the year.
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Investors Show Confidence in Manhattan Associates through Increased Stakes and Investments
Manhattan Associates, a leading software maker, has been making significant strides in recent times. The company has received investment from several large investors who have either increased or reduced their stakes in the firm, as reported on June 1st, 2023. Private Advisor Group LLC, PNC Financial Services Group Inc., Great West Life Assurance Co. Can, Raymond James Trust N.A., and Aviva PLC are among the companies who have made further investments in Manhattan Associates during the first quarter of 2023.
Private Advisor Group LLC’s stake increased by 19.6%, and they now hold 1,911 shares valued at $265,000 after acquiring an additional 313 shares during this period. PNC Financial Services Group Inc.’s holdings grew by 7.4%, holding 2,518 shares worth $349,000 after purchasing another 174 shares. Great West Life Assurance Co. Can raised its position by 8.2%, now owning approximately $4,978,000 worth of stock after purchasing an additional 2,644 shares during Q1.
Raymond James Trust N.A saw a rise of 6.2% in its stake by giving over $394,000 and buying 166 more shares while Aviva PLC boosted its total altogether to roughly $2,317 million with an increase of about $965 worth of new stocks which correlates to a rise of 6.1%. Around 96.92% of Manhattan Associates’ stock is currently owned by hedge funds and institutional investors.
In other news concerning Manhattan Associates on March 9th one Director John J Huntz Jr sold off around 1000 shares for a total transaction value of $143650 while Executive Vice President (EVP) James Stewart Gantt back on May’s first Monday sold six thousand of the firm’s stocks for $169 each totaling nearly $1 million dollars in revenue following this matter.
In total, insiders have reportedly sold around $7.5 million worth of the stock in the last three months alone, which equals to 0.85% of the company’s shares now owned by insiders.
There is no doubt that these events have increased investor confidence, and Manhattan Associates has been discussed in a few research reports. Loop Capital raised their target price from $190.00 to $205.00 according to a report on May 24th while StockNews.com added coverage making a “buy” rating for Manhattan Associates on May 18th which boosted already existing recommendations from multiple research firms. DA Davidson advanced its target from $145 to $160 on April 26th followed up by Robert W Baird raising its price targets from $168 well beyond with a significant surplus of $184 which puts their prediction near Rosenblatt Securities’ estimations also released on April 26th where it was stated there will likely be an upward extension from $150.00 to $160.00.
All in all, Manhattan Associates seem to be a promising investment opportunity with many investors placing their trust in the business model and potential future growth.
