Innealta Capital LLC Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Innealta Capital LLC purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 105 shares of the software maker’s stock, valued at approximately $26,000.

A number of other institutional investors also recently modified their holdings of MANH. CenterBook Partners LP acquired a new position in Manhattan Associates during the fourth quarter worth about $761,000. Russell Investments Group Ltd. increased its position in Manhattan Associates by 9.1% during the 4th quarter. Russell Investments Group Ltd. now owns 59,852 shares of the software maker’s stock worth $12,923,000 after purchasing an additional 4,986 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in Manhattan Associates by 82.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock worth $5,791,000 after purchasing an additional 12,124 shares in the last quarter. Vinva Investment Management Ltd boosted its position in Manhattan Associates by 69.5% in the fourth quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock valued at $8,570,000 after buying an additional 16,229 shares in the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of Manhattan Associates during the fourth quarter worth $1,417,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MANH. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Redburn Atlantic assumed coverage on Manhattan Associates in a research note on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target on the stock. DA Davidson boosted their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Loop Capital raised their price objective on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Finally, Citigroup lifted their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $257.43.

Manhattan Associates Price Performance

Shares of MANH opened at $264.43 on Friday. The business has a 50-day moving average of $247.24 and a 200-day moving average of $238.98. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 86.42 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same period in the prior year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Manhattan Associates 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.