9,906 Shares in Manhattan Associates, Inc. $MANH Purchased by L2 Asset Management LLC

L2 Asset Management LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, HoldingsChannel.com reports. The firm bought 9,906 shares of the software maker’s stock, valued at approximately $1,379,000.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in Manhattan Associates during the 2nd quarter worth $944,285,000. Norges Bank acquired a new stake in Manhattan Associates during the 4th quarter valued at approximately $124,264,000. William Blair Investment Management LLC bought a new position in Manhattan Associates during the second quarter worth $94,049,000. T. Rowe Price Investment Management Inc. raised its position in shares of Manhattan Associates by 35.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after acquiring an additional 671,589 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Manhattan Associates in the second quarter worth approximately $54,011,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MANH shares. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Citigroup boosted their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Weiss Ratings upgraded Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. DA Davidson increased their price objective on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Finally, Barclays decreased their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.20.

Manhattan Associates Trading Down 0.6%

MANH opened at $213.18 on Tuesday. The company has a 50 day moving average of $167.16 and a 200 day moving average of $149.00. The company has a market cap of $12.43 billion, a PE ratio of 61.08 and a beta of 0.93. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $220.31.

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

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 5,139 shares of Manhattan Associates 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 directly owned 55,676 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were 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 in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is owned by company insiders.

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.