Bank of Nova Scotia Takes $1.45 Million Position in Manhattan Associates, Inc. $MANH

Bank of Nova Scotia bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the 2nd quarter, Holdings Channel reports. The firm bought 10,385 shares of the software maker’s stock, valued at approximately $1,446,000.

A number of other institutional investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Manhattan Associates by 3.3% in the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock valued at $366,000 after acquiring an additional 59 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Manhattan Associates by 2.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock valued at $555,000 after acquiring an additional 69 shares during the period. Covestor Ltd increased its stake in shares of Manhattan Associates by 12.2% during the 4th quarter. Covestor Ltd now owns 670 shares of the software maker’s stock worth $116,000 after purchasing an additional 73 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Manhattan Associates by 3.4% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker’s stock worth $402,000 after purchasing an additional 76 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Manhattan Associates by 1.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock valued at $1,104,000 after purchasing an additional 80 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Stock Performance

MANH opened at $215.89 on Thursday. The firm has a market cap of $12.59 billion, a P/E ratio of 61.86 and a beta of 0.93. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $220.31. The business’s fifty day moving average is $170.31 and its 200-day moving average is $150.07.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $289.03 million. During the same quarter in the previous year, the firm earned $1.31 earnings per share. Manhattan Associates’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the business’s stock in a transaction that occurred 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. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MANH. Barclays cut their target price on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research note on Friday, May 29th. DA Davidson boosted their price target on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a research note on Wednesday, July 29th. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Robert W. Baird lifted their target price on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $213.40.

Manhattan Associates Company Profile

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.