HighTower Advisors LLC Buys 301 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

HighTower Advisors LLC grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 6.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,002 shares of the software maker’s stock after acquiring an additional 301 shares during the period. HighTower Advisors LLC’s holdings in Manhattan Associates were worth $1,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MANH. Innealta Capital LLC acquired a new position in Manhattan Associates during the 2nd quarter worth $26,000. International Assets Investment Management LLC bought a new position in Manhattan Associates in the second quarter valued at about $27,000. DT Investment Partners LLC acquired a new stake in Manhattan Associates in the second quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates during the 2nd quarter worth about $31,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $34,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MANH. Citigroup increased their target price 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. Piper Sandler started coverage on Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Raymond James upped their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $290.78.

Manhattan Associates Trading Down 3.7 %

MANH stock opened at $298.17 on Monday. The business’s 50 day simple moving average is $286.25 and its 200 day simple moving average is $262.54. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $312.60. The firm has a market capitalization of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 earnings per share. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

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.