Intech Investment Management LLC Purchases 30,617 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Intech Investment Management LLC lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 168.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,763 shares of the software maker’s stock after acquiring an additional 30,617 shares during the period. Intech Investment Management LLC owned approximately 0.08% of Manhattan Associates worth $12,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MANH. iA Global Asset Management Inc. lifted its stake in Manhattan Associates by 9.7% in the first quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock valued at $182,000 after buying an additional 64 shares during the period. Janiczek Wealth Management LLC boosted its stake in Manhattan Associates by 4.6% during the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock worth $373,000 after acquiring an additional 65 shares in the last quarter. GAMMA Investing LLC grew its holdings in Manhattan Associates by 11.4% in the second quarter. GAMMA Investing LLC now owns 804 shares of the software maker’s stock worth $198,000 after purchasing an additional 82 shares during the period. Legacy Advisors LLC increased its stake in Manhattan Associates by 1.3% in the second quarter. Legacy Advisors LLC now owns 6,689 shares of the software maker’s stock valued at $1,650,000 after purchasing an additional 84 shares in the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Manhattan Associates by 3.9% during the second quarter. QRG Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $633,000 after purchasing an additional 97 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated 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 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 this link. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MANH shares. Citigroup upped their price target on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Loop Capital increased their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. DA Davidson boosted their price target 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 lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $260.29.

Manhattan Associates Price Performance

MANH opened at $275.94 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $278.08. The firm has a market capitalization of $16.99 billion, a P/E ratio of 90.18 and a beta of 1.50. The company’s 50-day moving average is $252.97 and its 200 day moving average is $240.53.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, topping the consensus estimate of $0.96 by $0.22. The firm had revenue of $265.30 million for the quarter, compared to analysts’ expectations 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 quarter last year, the firm earned $0.63 EPS. On average, equities research analysts expect 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.