Highland Capital Management LLC Takes $1.14 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Highland Capital Management LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, HoldingsChannel reports. The fund bought 5,304 shares of the software maker’s stock, valued at approximately $1,142,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Manhattan Associates by 11.2% in the second quarter. BlackRock Inc. now owns 8,294,968 shares of the software maker’s stock valued at $1,657,998,000 after purchasing an additional 833,197 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Manhattan Associates by 3.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,738,298 shares of the software maker’s stock valued at $424,025,000 after purchasing an additional 95,122 shares during the period. State Street Corp lifted its stake in shares of Manhattan Associates by 2.1% in the first quarter. State Street Corp now owns 1,739,702 shares of the software maker’s stock valued at $269,393,000 after purchasing an additional 35,505 shares during the period. FMR LLC lifted its stake in shares of Manhattan Associates by 2.1% in the third quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock valued at $321,958,000 after purchasing an additional 33,549 shares during the period. Finally, Morgan Stanley lifted its stake in shares of Manhattan Associates by 0.9% in the third quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after purchasing an additional 13,303 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $249.73 on Thursday. The firm has a 50 day simple moving average of $244.86 and a 200-day simple moving average of $221.65. The firm has a market cap of $15.38 billion, a PE ratio of 88.56 and a beta of 1.44. Manhattan Associates, Inc. has a 1-year low of $146.81 and a 1-year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Rosenblatt Securities raised their price objective on shares of Manhattan Associates from $215.00 to $225.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. StockNews.com upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Raymond James lifted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Citigroup started coverage on shares of Manhattan Associates in a research report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 target price for the company. Finally, Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $231.29.

About Manhattan Associates

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.