Greenleaf Trust Purchases New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Greenleaf Trust acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 801 shares of the software maker’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MANH. M&G Plc acquired a new stake in shares of Manhattan Associates in the first quarter valued at approximately $77,433,000. Fiera Capital Corp bought a new stake in shares of Manhattan Associates during the second quarter worth $44,705,000. Squarepoint Ops LLC lifted its stake in shares of 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 holdings in Manhattan Associates by 173.2% in the first quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock valued at $40,893,000 after acquiring an additional 103,645 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after purchasing an additional 94,283 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity

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 transaction of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares in the company, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Up 0.8 %

MANH stock opened at $275.70 on Friday. Manhattan Associates, Inc. has a 1-year low of $186.77 and a 1-year high of $307.50. The firm has a market cap of $16.89 billion, a PE ratio of 78.32 and a beta of 1.50. The business’s 50-day moving average price is $274.95 and its two-hundred day moving average price is $247.04.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 86.65% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the previous year, the business posted $0.79 EPS. Manhattan Associates’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts forecast that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MANH shares. Loop Capital raised their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. DA Davidson lifted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. 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. Finally, Citigroup upped their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $286.38.

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.