Bridges Investment Management Inc. Acquires Shares of 1,743 Manhattan Associates, Inc. (NASDAQ:MANH)

Bridges Investment Management Inc. acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,743 shares of the software maker’s stock, valued at approximately $430,000.

A number of other institutional investors also recently made changes to their positions in MANH. Tobam bought a new stake in shares of Manhattan Associates in the first quarter worth $25,000. Innealta Capital LLC acquired a new position in Manhattan Associates during the 2nd quarter worth $26,000. Benjamin Edwards Inc. bought a new stake in shares of Manhattan Associates in the 1st quarter worth about $27,000. International Assets Investment Management LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at about $27,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Manhattan Associates during the first quarter worth about $31,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates 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 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 filing with the SEC, which is accessible through this link. 0.72% of the stock is owned by insiders.

Manhattan Associates Price Performance

Shares of MANH opened at $275.94 on Friday. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $278.08. The stock has a fifty day moving average price of $252.97 and a 200 day moving average price of $240.45. The company has a market cap of $16.99 billion, a P/E ratio of 90.18 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly 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. 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 analyst estimates of $255.83 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, research analysts anticipate that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MANH. DA Davidson boosted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Loop Capital upped their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup boosted their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $260.29.

Manhattan Associates Company 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.