MBB Public Markets I LLC Purchases New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

MBB Public Markets I LLC acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,546 shares of the software maker’s stock, valued at approximately $1,121,000.

A number of other large investors have also modified their holdings of the company. Corient Private Wealth LLC raised its holdings in Manhattan Associates by 88.7% in the 4th quarter. Corient Private Wealth LLC now owns 4,368 shares of the software maker’s stock worth $941,000 after purchasing an additional 2,053 shares during the period. Stifel Financial Corp lifted its position in shares of Manhattan Associates by 4.6% during the 4th quarter. Stifel Financial Corp now owns 59,921 shares of the software maker’s stock valued at $12,902,000 after buying an additional 2,608 shares in the last quarter. Bank of Nova Scotia grew its stake in Manhattan Associates by 101.8% in the 4th quarter. Bank of Nova Scotia now owns 2,971 shares of the software maker’s stock valued at $640,000 after acquiring an additional 1,499 shares during the period. APG Asset Management US Inc. acquired a new stake in Manhattan Associates in the 4th quarter valued at $2,607,000. Finally, KBC Group NV acquired a new position in Manhattan Associates during the fourth quarter worth $1,381,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $281.38 on Tuesday. The business’s 50 day moving average price is $259.56 and its 200 day moving average price is $241.47. The company has a market cap of $17.32 billion, a price-to-earnings ratio of 91.95 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $287.63.

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 return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the previous year, the firm earned $0.63 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MANH has been the topic of several research analyst reports. Citigroup lifted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital boosted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, DA Davidson boosted their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $264.57.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

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.