Strategic Advisors LLC Acquires Shares of 1,596 Manhattan Associates, Inc. (NASDAQ:MANH)

Strategic Advisors LLC acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,596 shares of the software maker’s stock, valued at approximately $449,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Boston Trust Walden Corp increased its stake in shares of Manhattan Associates by 3.3% during the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock worth $27,022,000 after purchasing an additional 3,525 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Manhattan Associates by 18.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 401,563 shares of the software maker’s stock worth $86,465,000 after purchasing an additional 62,031 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of Manhattan Associates by 11.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 427,326 shares of the software maker’s stock worth $106,930,000 after purchasing an additional 43,704 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Manhattan Associates during the 1st quarter worth $2,407,000. Finally, SG Americas Securities LLC increased its stake in shares of Manhattan Associates by 399.7% during the 1st quarter. SG Americas Securities LLC now owns 13,417 shares of the software maker’s stock worth $3,357,000 after purchasing an additional 10,732 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MANH shares. Loop Capital increased their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note 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. DA Davidson upped 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. Finally, Citigroup upped their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $264.57.

Manhattan Associates Stock Up 0.3 %

Manhattan Associates stock traded up $0.85 during mid-day trading on Thursday, reaching $293.11. The company had a trading volume of 210,529 shares, compared to its average volume of 406,677. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $293.98. The company has a 50 day moving average of $264.04 and a 200-day moving average of $243.10. The firm has a market cap of $18.05 billion, a price-to-earnings ratio of 95.51 and a beta of 1.50.

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

Insider Activity

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

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.