Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 26.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,294 shares of the software maker’s stock after acquiring an additional 28,874 shares during the period. Envestnet Asset Management Inc. owned about 0.23% of Manhattan Associates worth $34,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. iA Global Asset Management Inc. grew its stake in Manhattan Associates by 9.7% during the 1st quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock worth $182,000 after purchasing an additional 64 shares in the last quarter. Janiczek Wealth Management LLC grew its position in shares of Manhattan Associates by 4.6% during the first 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 in the last quarter. GAMMA Investing LLC increased its stake in shares of Manhattan Associates by 11.4% during the second quarter. GAMMA Investing LLC now owns 804 shares of the software maker’s stock worth $198,000 after buying an additional 82 shares during the period. Legacy Advisors LLC raised its holdings in 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. lifted its stake in Manhattan Associates by 3.9% in the second quarter. QRG Capital Management Inc. now owns 2,567 shares of the software maker’s stock worth $633,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 0.3 %

Shares of NASDAQ MANH opened at $275.94 on Friday. The business has a 50-day moving average price of $252.26 and a 200 day moving average price of $240.39. The stock has a market cap of $16.99 billion, a PE ratio of 90.10 and a beta of 1.50. Manhattan Associates, Inc. has a 52-week low of $182.97 and a 52-week high of $278.08.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in 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 report on Friday, June 28th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. DA Davidson upped their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Loop Capital raised their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $260.29.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the business’s 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 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

About Manhattan Associates

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.