Ameritas Investment Partners Inc. Acquires 5,903 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Ameritas Investment Partners Inc. raised its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 43.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,496 shares of the software maker’s stock after acquiring an additional 5,903 shares during the quarter. Ameritas Investment Partners Inc.’s holdings in Manhattan Associates were worth $4,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Tobam purchased a new stake in Manhattan Associates during the 1st quarter worth about $25,000. Innealta Capital LLC bought a new position in shares of Manhattan Associates in the second quarter valued at approximately $26,000. Benjamin Edwards Inc. purchased a new position in Manhattan Associates during the first quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new stake in Manhattan Associates during the 2nd quarter worth approximately $27,000. Finally, Contravisory Investment Management Inc. purchased a new stake in Manhattan Associates in the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH stock opened at $275.94 on Friday. The company has a market capitalization of $16.99 billion, a PE ratio of 90.18 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $278.08. The company’s 50 day moving average price is $252.97 and its two-hundred day moving average price is $240.53.

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, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, research analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MANH. Loop Capital upped their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup upped their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Finally, DA Davidson raised their target price 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus price target of $260.29.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.