Merit Financial Group LLC Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Merit Financial Group LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,614 shares of the software maker’s stock, valued at approximately $436,000.

Several other institutional investors have also added to or reduced their stakes in MANH. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at $34,000. Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at approximately $42,000. Carolina Wealth Advisors LLC acquired a new position in shares of Manhattan Associates during the third quarter worth $50,000. Brooklyn Investment Group acquired a new position in Manhattan Associates in the 3rd quarter worth about $58,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in Manhattan Associates in the 3rd quarter valued at approximately $63,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Stock Up 1.1 %

Shares of MANH stock opened at $284.96 on Friday. The company has a 50 day moving average of $282.01 and a 200-day moving average of $270.90. Manhattan Associates, Inc. has a 12-month low of $205.12 and a 12-month high of $312.60. The firm has a market cap of $17.41 billion, a P/E ratio of 80.95 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same quarter last year, the business earned $0.79 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MANH shares. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Truist Financial increased 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. Piper Sandler began coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective for the company. Finally, Citigroup increased their target price on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.89.

Insider Activity at Manhattan Associates

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

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.