Handelsbanken Fonder AB Acquires 2,100 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Handelsbanken Fonder AB raised its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 15.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,388 shares of the software maker’s stock after acquiring an additional 2,100 shares during the period. Handelsbanken Fonder AB’s holdings in Manhattan Associates were worth $4,330,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MANH. SG Americas Securities LLC raised its stake in Manhattan Associates by 365.0% in the third quarter. SG Americas Securities LLC now owns 6,399 shares of the software maker’s stock valued at $1,801,000 after purchasing an additional 5,023 shares in the last quarter. Bright Rock Capital Management LLC purchased a new position in Manhattan Associates in the third quarter worth $3,433,000. Paragon Capital Management Inc. increased its stake in Manhattan Associates by 1.6% in the second quarter. Paragon Capital Management Inc. now owns 6,673 shares of the software maker’s stock valued at $1,646,000 after acquiring an additional 103 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Manhattan Associates during the second quarter valued at about $1,395,000. Finally, Cetera Investment Advisers lifted its stake in Manhattan Associates by 9.0% during the second quarter. Cetera Investment Advisers now owns 4,240 shares of the software maker’s stock worth $1,046,000 after purchasing an additional 349 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 2.0 %

NASDAQ:MANH opened at $286.28 on Wednesday. The firm has a market capitalization of $17.63 billion, a P/E ratio of 93.56 and a beta of 1.50. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $287.63. The company has a fifty day moving average of $263.30 and a 200 day moving average of $242.75.

Manhattan Associates (NASDAQ:MANH) last issued 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 firm had revenue of $265.30 million during 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 company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. As a group, analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MANH. Citigroup increased their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital lifted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. DA Davidson upped their price objective on shares of 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 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $264.57.

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.