MBB Public Markets I LLC Invests $1.12 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

MBB Public Markets I LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,546 shares of the software maker’s stock, valued at approximately $1,121,000.

Several other institutional investors also recently bought and sold shares of the business. Tobam bought a new position in Manhattan Associates in the first quarter worth about $25,000. Innealta Capital LLC bought a new position in shares of Manhattan Associates during the 2nd quarter worth approximately $26,000. Benjamin Edwards Inc. purchased a new stake in Manhattan Associates during the first quarter valued at approximately $27,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates in the second quarter valued at approximately $27,000. Finally, Contravisory Investment Management Inc. purchased a new position in Manhattan Associates in the first quarter worth $31,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 completion of the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.72% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MANH has been the subject of several analyst reports. Loop Capital increased their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. DA Davidson increased 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. Citigroup boosted their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, StockNews.com lowered shares of 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.57.

Manhattan Associates Stock Up 0.4 %

Manhattan Associates stock opened at $281.38 on Tuesday. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $287.63. The stock has a 50-day moving average price of $259.56 and a 200 day moving average price of $241.47. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 91.95 and a beta of 1.50.

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

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.