Jump Financial LLC Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Jump Financial LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 2,541 shares of the software maker’s stock, valued at approximately $687,000.

Several other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Manhattan Associates by 101.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,673,776 shares of the software maker’s stock valued at $452,321,000 after acquiring an additional 841,276 shares during the period. Norges Bank acquired a new position in Manhattan Associates during the 4th quarter valued at about $201,377,000. JPMorgan Chase & Co. boosted its stake in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Manhattan Associates by 43.2% during the 4th quarter. Franklin Resources Inc. now owns 1,916,509 shares of the software maker’s stock worth $517,917,000 after buying an additional 578,295 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Manhattan Associates by 275.6% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,750 shares of the software maker’s stock worth $131,539,000 after buying an additional 357,172 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other news, CFO Dennis B. Story sold 2,788 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $170.83, for a total transaction of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This represents a 2.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $162.25 on Wednesday. The stock has a 50 day simple moving average of $170.14 and a 200 day simple moving average of $236.69. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60. The firm has a market capitalization of $9.85 billion, a PE ratio of 46.23 and a beta of 1.36.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, April 22nd. The software maker reported $0.84 earnings per share for the quarter, missing the consensus estimate of $1.02 by ($0.18). Manhattan Associates had a net margin of 20.95% and a return on equity of 84.62%. Equities research analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on MANH shares. DA Davidson reduced their price objective on shares of Manhattan Associates from $270.00 to $195.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Truist Financial decreased their price objective on Manhattan Associates from $285.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Citigroup cut their target price on Manhattan Associates from $244.00 to $184.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th. Raymond James decreased their target price on Manhattan Associates from $305.00 to $270.00 and set an “outperform” rating for the company in a research report on Wednesday, January 29th. Finally, William Blair upgraded shares of Manhattan Associates from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $212.67.

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.