Argent Trust Co Grows Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Argent Trust Co grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 14.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 1,006 shares of the software maker’s stock after buying an additional 124 shares during the period. Argent Trust Co’s holdings in Manhattan Associates were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MANH. CenterBook Partners LP bought a new stake in shares of Manhattan Associates during the 4th quarter valued at $761,000. Nomura Asset Management Co. Ltd. increased its position in shares of Manhattan Associates by 82.1% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after buying an additional 12,124 shares during the period. Vinva Investment Management Ltd increased its position in shares of Manhattan Associates by 69.5% during 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 during the period. Weiss Asset Management LP purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $1,417,000. Finally, Boston Trust Walden Corp boosted its position in shares of Manhattan Associates by 3.3% in the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock valued at $27,022,000 after acquiring an additional 3,525 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

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 transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Up 0.3 %

Shares of Manhattan Associates stock opened at $275.94 on Friday. The business’s 50-day moving average price is $252.26 and its 200-day moving average price is $240.39. The firm has a market capitalization of $16.99 billion, a PE ratio of 90.18 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $278.08.

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

Analyst Upgrades and Downgrades

MANH has been the topic of several recent analyst reports. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson lifted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Loop Capital boosted their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Citigroup raised their price target on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $260.29.

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.