Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by Cetera Investment Advisers

Cetera Investment Advisers increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 9.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,240 shares of the software maker’s stock after purchasing an additional 349 shares during the quarter. Cetera Investment Advisers’ holdings in Manhattan Associates were worth $1,046,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Point72 Asset Management L.P. purchased a new position in Manhattan Associates during the 2nd quarter valued at about $19,606,000. Northwestern Mutual Wealth Management Co. lifted its stake in Manhattan Associates by 12.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,559 shares of the software maker’s stock worth $631,000 after purchasing an additional 274 shares during the last quarter. Creative Planning increased its position in Manhattan Associates by 8.7% during the second quarter. Creative Planning now owns 7,279 shares of the software maker’s stock worth $1,796,000 after buying an additional 583 shares during the period. Algert Global LLC increased its position in Manhattan Associates by 26.8% during the second quarter. Algert Global LLC now owns 2,435 shares of the software maker’s stock worth $601,000 after buying an additional 514 shares during the period. Finally, SkyView Investment Advisors LLC increased its position in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after buying an additional 46 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $304.54 on Friday. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $307.50. The firm has a market capitalization of $18.75 billion, a PE ratio of 99.52 and a beta of 1.50. The business has a 50-day moving average of $270.94 and a two-hundred day moving average of $245.29.

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

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MANH has been the topic of a number of recent research reports. Truist Financial boosted their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. DA Davidson boosted their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Loop Capital upped 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. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Citigroup upped 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 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, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $271.71.

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.