State of Wyoming Makes New Investment in Manhattan Associates, Inc. $MANH

State of Wyoming acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,550 shares of the software maker’s stock, valued at approximately $494,000.

Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. purchased a new stake in Manhattan Associates in the 2nd quarter valued at $1,112,000. Wasatch Advisors LP increased its stake in Manhattan Associates by 2.8% in the second quarter. Wasatch Advisors LP now owns 11,147 shares of the software maker’s stock valued at $1,552,000 after purchasing an additional 306 shares during the period. Handelsbanken Fonder AB raised its holdings in shares of Manhattan Associates by 5.6% in the second quarter. Handelsbanken Fonder AB now owns 18,788 shares of the software maker’s stock valued at $2,616,000 after buying an additional 1,000 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in Manhattan Associates by 8.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 126,378 shares of the software maker’s stock valued at $17,598,000 after acquiring an additional 10,265 shares during the last quarter. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Manhattan Associates during the second quarter worth approximately $64,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 5,139 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares in the company, valued at $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the sale, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 9,139 shares of company stock valued at $1,744,879. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Barclays reduced 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. Robert W. Baird boosted their price target on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. DA Davidson increased their price target on shares of 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 price objective on shares of Manhattan Associates in a research report on Wednesday, July 29th. Finally, Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.20.

Manhattan Associates Stock Down 0.5%

Shares of NASDAQ MANH opened at $196.47 on Tuesday. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 56.30 and a beta of 0.93. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $220.59. The firm has a 50-day moving average price of $160.67 and a 200 day moving average price of $146.96.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. The company had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $1.31 earnings per share. Equities research analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Manhattan Associates 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.