Park Avenue Securities LLC Increases Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Park Avenue Securities LLC boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 21.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,825 shares of the software maker’s stock after purchasing an additional 676 shares during the quarter. Park Avenue Securities LLC’s holdings in Manhattan Associates were worth $1,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Oak Thistle LLC bought a new stake in Manhattan Associates during the fourth quarter valued at about $1,326,000. GAMMA Investing LLC boosted its position in Manhattan Associates by 47.5% during the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after purchasing an additional 382 shares in the last quarter. Mediolanum International Funds Ltd boosted its position in Manhattan Associates by 602.0% during the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock valued at $5,607,000 after purchasing an additional 17,187 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Manhattan Associates by 213.7% during the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Finally, Chartwell Investment Partners LLC boosted its position in Manhattan Associates by 31.1% during the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after purchasing an additional 5,119 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Down 0.7 %

Manhattan Associates stock opened at $273.43 on Tuesday. Manhattan Associates, Inc. has a 52 week low of $205.12 and a 52 week high of $312.60. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 77.68 and a beta of 1.52. The stock has a 50-day moving average price of $282.06 and a 200 day moving average price of $270.48.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. Research analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of recent research reports. Citigroup raised their price objective on Manhattan Associates from $287.00 to $306.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Truist Financial raised their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Raymond James raised their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Piper Sandler began coverage on Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.89.

Insider Buying and Selling

In related news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates 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.