Argent Trust Co Acquires 124 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Argent Trust Co raised its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 14.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,006 shares of the software maker’s stock after buying an additional 124 shares during the period. Argent Trust Co’s holdings in Manhattan Associates were worth $248,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MANH. CenterBook Partners LP acquired a new position in Manhattan Associates in the 4th quarter worth about $761,000. Nomura Asset Management Co. Ltd. lifted its holdings in Manhattan Associates by 82.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after buying an additional 12,124 shares during the period. Vinva Investment Management Ltd increased its holdings in Manhattan Associates by 69.5% in the fourth quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock worth $8,570,000 after purchasing an additional 16,229 shares in the last quarter. Weiss Asset Management LP acquired a new position in Manhattan Associates during the fourth quarter worth $1,417,000. Finally, Boston Trust Walden Corp lifted its position in Manhattan Associates by 3.3% in the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock valued at $27,022,000 after acquiring an additional 3,525 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MANH has been the subject of several analyst reports. Citigroup increased their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson upped their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, Loop Capital increased their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four equities research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $260.29.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the company’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 value of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $275.94 on Friday. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $278.08. The company has a market capitalization of $16.99 billion, a PE ratio of 90.18 and a beta of 1.50. The business has a fifty day moving average price of $252.26 and a two-hundred day moving average price of $240.39.

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

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.