Focus Partners Advisor Solutions LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,706 shares of the software maker’s stock, valued at approximately $655,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. NewEdge Advisors LLC increased its position in shares of Manhattan Associates by 3.3% during the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock valued at $366,000 after buying an additional 59 shares during the period. Tower Research Capital LLC TRC raised its stake in Manhattan Associates by 2.6% in the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock worth $555,000 after buying an additional 69 shares in the last quarter. Covestor Ltd lifted its holdings in Manhattan Associates by 12.2% in the fourth quarter. Covestor Ltd now owns 670 shares of the software maker’s stock worth $116,000 after buying an additional 73 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Manhattan Associates by 3.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker’s stock worth $402,000 after buying an additional 76 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in Manhattan Associates by 1.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock valued at $1,104,000 after acquiring an additional 80 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Manhattan Associates
In related news, CEO Eric Andrew Clark sold 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 5,139 shares of the firm’s stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the sale, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 9,139 shares of company stock valued at $1,744,879 over the last 90 days. Corporate insiders own 0.84% of the company’s stock.
Manhattan Associates Stock Down 0.5%
Manhattan Associates (NASDAQ:MANH – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.07. The company had revenue of $297.79 million for the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 EPS. On average, equities analysts anticipate that Manhattan Associates, Inc. will post 3.87 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on MANH shares. Stifel Nicolaus upped their target price on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Citigroup lifted their price target on Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. DA Davidson upped their price target on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings upgraded shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.20.
Read Our Latest Stock Analysis on MANH
Manhattan Associates Company Profile
Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.
Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.
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