Silvant Capital Management LLC Makes New $4.27 Million Investment in Manhattan Associates, Inc. $MANH

Silvant Capital Management LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, HoldingsChannel reports. The firm purchased 30,673 shares of the software maker’s stock, valued at approximately $4,271,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its holdings in Manhattan Associates by 448.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock worth $28,000 after purchasing an additional 112 shares in the last quarter. Versant Capital Management Inc raised its holdings in Manhattan Associates by 508.9% during the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock valued at $38,000 after buying an additional 229 shares in the last quarter. BNP Paribas bought a new position in Manhattan Associates during the fourth quarter valued at about $39,000. TD Private Client Wealth LLC lifted its position in shares of Manhattan Associates by 83.8% in the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after buying an additional 109 shares during the last quarter. Finally, Leonteq Securities AG acquired a new stake in shares of Manhattan Associates in the fourth quarter worth about $44,000. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on MANH shares. Barclays lowered their price objective on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. DA Davidson boosted their target price on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Finally, Citigroup lifted their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $209.20.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH opened at $211.21 on Friday. The company has a market cap of $12.32 billion, a P/E ratio of 60.52 and a beta of 0.93. The stock’s 50-day moving average is $164.34 and its 200-day moving average is $148.00. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $220.31.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. During the same quarter in the previous year, the firm earned $1.31 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, equities analysts predict that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the transaction, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the transaction, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,139 shares of company stock valued at $1,744,879 over the last three months. 0.84% of the stock is owned by company insiders.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.