Blue Trust Inc. Raises Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Blue Trust Inc. grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 153.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,408 shares of the software maker’s stock after acquiring an additional 853 shares during the period. Blue Trust Inc.’s holdings in Manhattan Associates were worth $396,000 at the end of the most recent reporting period.

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

Manhattan Associates Stock Down 7.2 %

Shares of MANH stock opened at $271.36 on Thursday. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $307.50. The firm’s 50 day moving average price is $274.18 and its two-hundred day moving average price is $246.59. The stock has a market cap of $16.71 billion, a price-to-earnings ratio of 88.68 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. On average, equities analysts forecast that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on MANH. Raymond James raised their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday. Citigroup boosted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $286.38.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred on 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 owns 46,287 shares in the company, valued at $11,872,615.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

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.