Eventide Asset Management LLC Buys New Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Eventide Asset Management LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,699 shares of the software maker’s stock, valued at approximately $2,166,000.

A number of other institutional investors have also modified their holdings of MANH. GAMMA Investing LLC grew its holdings in Manhattan Associates by 47.5% during the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after acquiring an additional 382 shares during the period. Boston Trust Walden Corp boosted its position in Manhattan Associates by 3.3% in the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock worth $27,022,000 after purchasing an additional 3,525 shares in the last quarter. Mediolanum International Funds Ltd grew its stake in shares of Manhattan Associates by 602.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the period. Chartwell Investment Partners LLC increased its holdings in shares of Manhattan Associates by 31.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after purchasing an additional 5,119 shares in the last quarter. Finally, M&G Plc increased its holdings in shares of Manhattan Associates by 2.1% during the 2nd quarter. M&G Plc now owns 316,243 shares of the software maker’s stock valued at $78,112,000 after purchasing an additional 6,511 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Down 0.8 %

Shares of MANH opened at $285.44 on Friday. The firm’s fifty day moving average is $282.27 and its two-hundred day moving average is $256.35. The stock has a market cap of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the prior year, the company earned $0.79 EPS. Manhattan Associates’s revenue was up 11.9% compared to the same quarter last year. As a group, research analysts anticipate that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

MANH has been the topic of a number of recent analyst reports. Piper Sandler initiated coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price target on the stock. Robert W. Baird increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Raymond James lifted their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Loop Capital upped their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, DA Davidson raised their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $290.78.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.