Kesler Norman & Wride LLC Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Kesler Norman & Wride LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,060 shares of the software maker’s stock, valued at approximately $580,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tobam bought a new position in Manhattan Associates during the first quarter worth about $25,000. Innealta Capital LLC purchased a new position in Manhattan Associates during 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 purchased a new position in Manhattan Associates during the second quarter valued at approximately $27,000. Finally, Contravisory Investment Management Inc. purchased a new position in Manhattan Associates during the first quarter valued at approximately $31,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $286.28 on Wednesday. The firm has a market cap of $17.63 billion, a PE ratio of 93.56 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $287.63. The company has a 50 day simple moving average of $263.30 and a two-hundred day simple moving average of $242.75.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. The firm 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 business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. As a group, research analysts anticipate that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. DA Davidson boosted their price objective 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. Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Citigroup lifted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.