Handelsbanken Fonder AB Buys 2,500 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Handelsbanken Fonder AB lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 23.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 13,288 shares of the software maker’s stock after acquiring an additional 2,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Manhattan Associates were worth $2,861,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MANH. Blue Trust Inc. increased its holdings in Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares in the last quarter. Bear Mountain Capital Inc. bought a new stake in Manhattan Associates in the fourth quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Manhattan Associates in the fourth quarter worth approximately $26,000. UMB Bank n.a. increased its holdings in Manhattan Associates by 474.4% in the third quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock worth $44,000 after purchasing an additional 185 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Manhattan Associates by 28.8% in the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after purchasing an additional 46 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Stock Up 0.3 %

Shares of NASDAQ:MANH opened at $209.02 on Friday. The stock has a market cap of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. Manhattan Associates, Inc. has a 12-month low of $164.55 and a 12-month high of $266.94. The business’s 50 day moving average is $244.34 and its 200 day moving average is $226.79.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.23. The company had revenue of $238.26 million for the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. As a group, equities research analysts expect that Manhattan Associates, Inc. will post 2.81 earnings per share for the current year.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a report on Wednesday. DA Davidson upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $220.00 to $240.00 in a report on Thursday. Truist Financial boosted their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Raymond James boosted their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, Citigroup decreased their price objective on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.86.

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.