Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by Janus Henderson Group PLC

Janus Henderson Group PLC raised its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 13.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,762 shares of the software maker’s stock after acquiring an additional 332 shares during the quarter. Janus Henderson Group PLC’s holdings in Manhattan Associates were worth $777,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of Manhattan Associates by 47.5% during the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after purchasing an additional 382 shares during the last quarter. Mediolanum International Funds Ltd lifted its holdings in Manhattan Associates by 602.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after buying an additional 17,187 shares during the last quarter. Chartwell Investment Partners LLC grew its position in shares of Manhattan Associates by 31.1% in the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock worth $6,065,000 after acquiring an additional 5,119 shares in the last quarter. KBC Group NV increased its holdings in shares of Manhattan Associates by 70.9% in the 3rd quarter. KBC Group NV now owns 28,355 shares of the software maker’s stock valued at $7,979,000 after acquiring an additional 11,762 shares during the last quarter. Finally, Montanaro Asset Management Ltd acquired a new stake in shares of Manhattan Associates during the 3rd quarter valued at approximately $7,485,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

NASDAQ MANH opened at $298.17 on Friday. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $312.60. The firm has a market capitalization of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50. The company’s 50 day simple moving average is $286.25 and its 200 day simple moving average is $262.25.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the firm earned $0.79 EPS. Sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MANH has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. DA Davidson raised their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird upped their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Citigroup raised their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Loop Capital boosted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.78.

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.