Verition Fund Management LLC Buys Shares of 3,520 Manhattan Associates, Inc. (NASDAQ:MANH)

Verition Fund Management LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,520 shares of the software maker’s stock, valued at approximately $990,000.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Manhattan Associates by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after acquiring an additional 382 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Manhattan Associates by 3.3% during the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock worth $27,022,000 after purchasing an additional 3,525 shares during the last quarter. Mediolanum International Funds Ltd increased its stake in shares of Manhattan Associates by 602.0% in the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock valued at $5,607,000 after buying an additional 17,187 shares during the period. Chartwell Investment Partners LLC raised its holdings in Manhattan Associates by 31.1% in the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after buying an additional 5,119 shares during the last quarter. Finally, M&G Plc raised its holdings in Manhattan Associates by 2.1% in the 2nd quarter. M&G Plc now owns 316,243 shares of the software maker’s stock valued at $78,112,000 after buying an additional 6,511 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Truist Financial boosted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Robert W. Baird increased their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. DA Davidson raised their target price on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Piper Sandler assumed coverage on Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. Finally, Loop Capital increased their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $290.78.

Manhattan Associates Stock Performance

Shares of MANH opened at $302.59 on Monday. The firm has a market cap of $18.48 billion, a PE ratio of 85.96 and a beta of 1.50. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50. The business’s 50 day moving average price is $283.99 and its two-hundred day moving average price is $259.88.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same period in the prior year, the firm earned $0.79 earnings per share. Manhattan Associates’s revenue was up 11.9% on a year-over-year basis. Research analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

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.