Manhattan Associates, Inc. $MANH Stock Purchased by Royce & Associates LP

Royce & Associates LP grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 13.0% during the third quarter, HoldingsChannel reports. The firm owned 355,306 shares of the software maker’s stock after buying an additional 41,002 shares during the quarter. Manhattan Associates accounts for about 0.6% of Royce & Associates LP’s investment portfolio, making the stock its 16th largest holding. Royce & Associates LP’s holdings in Manhattan Associates were worth $70,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MANH. BlackRock Inc. acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $944,285,000. William Blair Investment Management LLC bought a new position in Manhattan Associates in the 2nd quarter valued at approximately $94,049,000. Bank of America Corp DE bought a new position in Manhattan Associates in the 2nd quarter valued at approximately $75,136,000. Boston Trust Walden Corp acquired a new stake in Manhattan Associates in the third quarter valued at approximately $87,119,000. Finally, Bank of New York Mellon Corp acquired a new stake in Manhattan Associates in the second quarter valued at approximately $54,011,000. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. DA Davidson boosted their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 28th. Robert W. Baird increased their price target on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Truist Financial reissued a “buy” rating and set a $305.00 price objective (up from $240.00) on shares of Manhattan Associates in a report on Wednesday, October 28th. UBS Group set a $305.00 price objective on Manhattan Associates in a research report on Wednesday, October 28th. Finally, Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, November 1st. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $261.11.

Insider Activity

In other news, Director Linda Hollembaek sold 1,315 shares of Manhattan Associates stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $250.00, for a total transaction of $328,750.00. Following the transaction, the director owned 10,953 shares in the company, valued at approximately $2,738,250. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.84% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ MANH traded up $0.78 during trading hours on Friday, reaching $257.15. The company’s stock had a trading volume of 324,895 shares, compared to its average volume of 933,116. The firm has a fifty day simple moving average of $224.11 and a 200-day simple moving average of $170.87. The stock has a market cap of $14.93 billion, a P/E ratio of 72.03 and a beta of 0.85. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $263.47.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The business had revenue of $306.19 million for the quarter, compared to the consensus estimate of $297.01 million. During the same period last year, the company earned $1.36 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts expect that Manhattan Associates, Inc. will post 3.88 earnings per share for the current year.

About Manhattan Associates

Manhattan Associates (NASDAQ: MANH) develops software and provides services that help businesses manage supply chains, inventory and commerce operations. Its solutions support activities such as warehouse and transportation management, order fulfillment, labor management and coordination of sales across online and physical channels. The company’s product portfolio includes Manhattan Active, a cloud-native platform designed to connect supply chain and omnichannel commerce functions. Manhattan Associates serves organizations across industries including retail, manufacturing, wholesale distribution and consumer goods, with customers and operations in markets around the world.