Seven Eight Capital LP Has $1.13 Million Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Seven Eight Capital LP boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 59.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,581 shares of the software maker’s stock after acquiring an additional 1,713 shares during the quarter. Seven Eight Capital LP’s holdings in Manhattan Associates were worth $1,130,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Manhattan Associates during the fourth quarter worth $146,984,000. TD Asset Management Inc raised its stake in shares of Manhattan Associates by 234.2% during the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after purchasing an additional 384,941 shares in the last quarter. M&G Plc acquired a new stake in shares of Manhattan Associates during the 1st quarter valued at about $77,433,000. Epoch Investment Partners Inc. increased its holdings in Manhattan Associates by 110.6% in the fourth quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after buying an additional 193,951 shares during the last quarter. Finally, Fiera Capital Corp bought a new position in Manhattan Associates during the second quarter valued at approximately $44,705,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by insiders.

Manhattan Associates Stock Up 0.3 %

Shares of MANH opened at $275.94 on Friday. The stock’s 50-day moving average price is $252.26 and its 200 day moving average price is $240.39. The firm has a market capitalization of $16.99 billion, a price-to-earnings ratio of 90.18 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $278.08.

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