Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Fmr LLC

Fmr LLC increased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.3% during the third quarter, HoldingsChannel.com reports. The fund owned 1,917,412 shares of the software maker’s stock after acquiring an additional 130,817 shares during the quarter. Fmr LLC’s holdings in Manhattan Associates were worth $539,521,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in Manhattan Associates by 18.7% during the first quarter. Janus Henderson Group PLC now owns 2,746 shares of the software maker’s stock worth $687,000 after acquiring an additional 432 shares during the last quarter. iA Global Asset Management Inc. raised its position in shares of Manhattan Associates by 9.7% during the 1st quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock worth $182,000 after purchasing an additional 64 shares during the last quarter. Swedbank AB acquired a new position in shares of Manhattan Associates during the 1st quarter worth approximately $4,759,000. Atria Investments Inc lifted its stake in Manhattan Associates by 3.3% in the 1st quarter. Atria Investments Inc now owns 5,574 shares of the software maker’s stock valued at $1,395,000 after buying an additional 177 shares in the last quarter. Finally, HM Payson & Co. increased its position in Manhattan Associates by 51.2% during the first quarter. HM Payson & Co. now owns 786 shares of the software maker’s stock worth $197,000 after buying an additional 266 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MANH. Piper Sandler began coverage on Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective on the stock. Robert W. Baird upped their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Raymond James lifted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. DA Davidson boosted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Truist Financial raised their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Manhattan Associates Stock Down 0.8 %

NASDAQ:MANH opened at $285.44 on Friday. The company has a market cap of $17.43 billion, a P/E ratio of 81.09 and a beta of 1.52. The firm’s 50 day moving average is $282.27 and its two-hundred day moving average is $256.35. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same period last year, the company posted $0.79 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. Research analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

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.