124 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 124 shares of the software maker’s stock, valued at approximately $31,000.

Several other large investors have also recently added to or reduced their stakes in the business. Caprock Group LLC purchased a new stake in Manhattan Associates during the 2nd quarter worth approximately $1,024,000. MainStreet Investment Advisors LLC increased its position in shares of Manhattan Associates by 6.4% in the 2nd quarter. MainStreet Investment Advisors LLC now owns 2,459 shares of the software maker’s stock valued at $607,000 after purchasing an additional 148 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Manhattan Associates by 30.5% in the 2nd quarter. Victory Capital Management Inc. now owns 53,856 shares of the software maker’s stock valued at $13,285,000 after purchasing an additional 12,593 shares during the last quarter. Wealth Effects LLC purchased a new stake in shares of Manhattan Associates in the 2nd quarter valued at approximately $266,000. Finally, Fiera Capital Corp purchased a new stake in shares of Manhattan Associates in the 2nd quarter valued at approximately $44,705,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MANH. Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday. DA Davidson upped their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup upped their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $260.29.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $270.40 on Tuesday. The stock has a market cap of $16.65 billion, a P/E ratio of 88.37 and a beta of 1.50. The firm has a fifty day moving average price of $250.51 and a 200 day moving average price of $239.83. Manhattan Associates, Inc. has a 1-year low of $182.97 and a 1-year high of $270.58.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 EPS. Sell-side analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

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.