Susquehanna Fundamental Investments LLC Acquires New Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Susquehanna Fundamental Investments LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,014 shares of the software maker’s stock, valued at approximately $1,484,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mackenzie Financial Corp raised its position in shares of Manhattan Associates by 4.9% during the 2nd quarter. Mackenzie Financial Corp now owns 35,860 shares of the software maker’s stock valued at $8,846,000 after buying an additional 1,676 shares in the last quarter. MBB Public Markets I LLC purchased a new stake in Manhattan Associates during the second quarter valued at about $1,121,000. Decatur Capital Management Inc. lifted its stake in Manhattan Associates by 2.6% during the second quarter. Decatur Capital Management Inc. now owns 14,972 shares of the software maker’s stock worth $3,693,000 after purchasing an additional 376 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of Manhattan Associates by 19.0% in the 2nd quarter. APG Asset Management N.V. now owns 31,543 shares of the software maker’s stock worth $7,260,000 after purchasing an additional 5,027 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Manhattan Associates by 15.4% in the 2nd quarter. AQR Capital Management LLC now owns 358,367 shares of the software maker’s stock worth $88,402,000 after purchasing an additional 47,894 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, 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 accessible through this hyperlink. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Down 2.4 %

Shares of Manhattan Associates stock opened at $274.75 on Wednesday. The company’s fifty day simple moving average is $260.54 and its two-hundred day simple moving average is $241.66. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $287.63. The firm has a market cap of $16.92 billion, a PE ratio of 89.79 and a beta of 1.50.

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

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of recent research reports. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. DA Davidson boosted their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. 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. Finally, Citigroup lifted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $264.57.

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.