Parallel Advisors LLC Increases Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Parallel Advisors LLC increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 41.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,143 shares of the software maker’s stock after buying an additional 333 shares during the quarter. Parallel Advisors LLC’s holdings in Manhattan Associates were worth $282,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. increased its holdings in shares of Manhattan Associates by 9.7% in the first quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock valued at $182,000 after purchasing an additional 64 shares during the period. Janiczek Wealth Management LLC raised its position in Manhattan Associates by 4.6% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock worth $373,000 after buying an additional 65 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Manhattan Associates by 11.4% in the 2nd quarter. GAMMA Investing LLC now owns 804 shares of the software maker’s stock worth $198,000 after acquiring an additional 82 shares during the period. Legacy Advisors LLC boosted its holdings in shares of Manhattan Associates by 1.3% in the second quarter. Legacy Advisors LLC now owns 6,689 shares of the software maker’s stock valued at $1,650,000 after acquiring an additional 84 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Manhattan Associates by 3.9% in the second quarter. QRG Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $633,000 after acquiring an additional 97 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MANH shares. Citigroup raised their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Loop Capital increased their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday. DA Davidson lifted their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com cut 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 five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $260.29.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Price Performance

NASDAQ MANH opened at $269.20 on Thursday. The business has a 50 day moving average price of $251.12 and a 200 day moving average price of $239.94. The company has a market capitalization of $16.57 billion, a P/E ratio of 88.54 and a beta of 1.50. Manhattan Associates, Inc. has a 1-year low of $182.97 and a 1-year high of $276.99.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter last year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

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.