GAMMA Investing LLC Raises Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

GAMMA Investing LLC raised its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 47.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,186 shares of the software maker’s stock after purchasing an additional 382 shares during the quarter. GAMMA Investing LLC’s holdings in Manhattan Associates were worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MANH. M&G Plc purchased a new position in Manhattan Associates during the 1st quarter valued at $77,433,000. Fiera Capital Corp purchased a new position in Manhattan Associates during the 2nd quarter valued at $44,705,000. Squarepoint Ops LLC grew its position in shares of Manhattan Associates by 448.9% in the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after buying an additional 131,381 shares during the period. Russell Investments Group Ltd. grew its position in shares of Manhattan Associates by 173.2% in the 1st quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock worth $40,893,000 after buying an additional 103,645 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Manhattan Associates by 27.2% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker’s stock worth $94,898,000 after buying an additional 82,420 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $294.00 on Friday. The stock has a market cap of $18.10 billion, a price-to-earnings ratio of 96.08 and a beta of 1.50. The firm’s 50-day moving average is $264.90 and its 200 day moving average is $243.45. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $294.27.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The company had revenue of $265.30 million for 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 revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MANH shares. Citigroup upped their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, DA Davidson upped their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $264.57.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Company Profile

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.