Ignite Planners LLC Invests $276,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Ignite Planners LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 982 shares of the software maker’s stock, valued at approximately $276,000.

Several other hedge funds also recently added to or reduced their stakes in MANH. Vanguard Group Inc. grew its stake in shares of Manhattan Associates by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock valued at $1,669,365,000 after buying an additional 58,905 shares during the last quarter. TD Asset Management Inc boosted its holdings in Manhattan Associates by 10.5% during the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after acquiring an additional 57,859 shares during the period. Bank of New York Mellon Corp grew its position in Manhattan Associates by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after acquiring an additional 2,156 shares during the last quarter. RGM Capital LLC increased its stake in Manhattan Associates by 4.1% in the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock worth $143,824,000 after purchasing an additional 23,000 shares during the period. Finally, Bessemer Group Inc. boosted its stake in shares of Manhattan Associates by 0.3% during the first quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after purchasing an additional 1,757 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Up 2.0 %

Shares of NASDAQ MANH opened at $286.28 on Wednesday. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $287.63. The stock’s fifty day simple moving average is $263.30 and its two-hundred day simple moving average is $242.75. The stock has a market capitalization of $17.63 billion, a PE ratio of 93.56 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The company had revenue of $265.30 million for 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 firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. On average, equities analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Loop Capital lifted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. DA Davidson raised their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $264.57.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by company 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.