Manhattan Associates, Inc. (NASDAQ:MANH) Holdings Lifted by Atomi Financial Group Inc.

Atomi Financial Group Inc. boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 8.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,014 shares of the software maker’s stock after buying an additional 78 shares during the quarter. Atomi Financial Group Inc.’s holdings in Manhattan Associates were worth $285,000 at the end of the most recent reporting period.

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

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 30th. The shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MANH. Truist Financial boosted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday. DA Davidson boosted their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock 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. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup increased their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.71.

Manhattan Associates Stock Up 1.9 %

Shares of MANH stock opened at $299.50 on Friday. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 97.88 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $299.67. The firm has a fifty day moving average of $266.01 and a 200-day moving average of $243.76.

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

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.