Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 27.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 385,311 shares of the software maker’s stock after purchasing an additional 82,420 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.63% of Manhattan Associates worth $94,898,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in MANH. Tobam purchased a new stake in Manhattan Associates in the 1st quarter valued at $25,000. Innealta Capital LLC purchased a new position in Manhattan Associates during the second quarter worth about $26,000. Benjamin Edwards Inc. acquired a new position in Manhattan Associates in the 1st quarter valued at about $27,000. International Assets Investment Management LLC purchased a new stake in shares of Manhattan Associates in the 2nd quarter valued at approximately $27,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Manhattan Associates during the 1st quarter worth approximately $31,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of MANH opened at $275.17 on Friday. The company’s 50-day simple moving average is $251.58 and its 200-day simple moving average is $240.14. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $278.08. The stock has a market capitalization of $16.94 billion, a PE ratio of 89.92 and a beta of 1.50.

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

Analyst Ratings Changes

A number of research analysts recently commented on MANH shares. DA Davidson upped their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Loop Capital raised their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup increased their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $260.29.

Insider Buying and Selling

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

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.