Readystate Asset Management LP Raises Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Readystate Asset Management LP lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 36.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,804 shares of the software maker’s stock after purchasing an additional 1,804 shares during the quarter. Readystate Asset Management LP’s holdings in Manhattan Associates were worth $1,465,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Quarry LP bought a new stake in Manhattan Associates in the 4th quarter worth approximately $38,000. Price T Rowe Associates Inc. MD lifted its position in Manhattan Associates by 7.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 397,666 shares of the software maker’s stock worth $85,627,000 after buying an additional 28,083 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Manhattan Associates in the 4th quarter worth approximately $211,000. Public Employees Retirement System of Ohio lifted its position in Manhattan Associates by 1.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 29,467 shares of the software maker’s stock worth $6,345,000 after buying an additional 491 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in Manhattan Associates by 2.0% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 5,122 shares of the software maker’s stock worth $1,103,000 after buying an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded up $2.01 during midday trading on Thursday, reaching $230.44. 546,778 shares of the company’s stock traded hands, compared to its average volume of 366,016. The company has a market cap of $14.19 billion, a PE ratio of 81.72 and a beta of 1.44. The stock has a 50 day moving average of $247.10 and a 200-day moving average of $226.09. Manhattan Associates, Inc. has a 12 month low of $152.32 and a 12 month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. On average, equities analysts anticipate that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Truist Financial boosted their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Citigroup began coverage on Manhattan Associates in a research report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price objective for the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research report on Monday. Finally, Raymond James boosted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.29.

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.