Wealth Effects LLC Grows Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Wealth Effects LLC raised its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 20.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,305 shares of the software maker’s stock after acquiring an additional 225 shares during the quarter. Wealth Effects LLC’s holdings in Manhattan Associates were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gulf International Bank UK Ltd grew its position in shares of Manhattan Associates by 2.0% in the first quarter. Gulf International Bank UK Ltd now owns 6,243 shares of the software maker’s stock valued at $1,562,000 after purchasing an additional 120 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Manhattan Associates by 57.1% in the 1st quarter. Sunbelt Securities Inc. now owns 779 shares of the software maker’s stock valued at $195,000 after buying an additional 283 shares in the last quarter. DGS Capital Management LLC grew its holdings in Manhattan Associates by 13.4% during the 1st quarter. DGS Capital Management LLC now owns 7,412 shares of the software maker’s stock valued at $1,855,000 after buying an additional 877 shares during the last quarter. Janiczek Wealth Management LLC grew its holdings in Manhattan Associates by 4.6% during the 1st quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock valued at $373,000 after buying an additional 65 shares during the last quarter. Finally, Capital Insight Partners LLC increased its position in Manhattan Associates by 0.7% during the first quarter. Capital Insight Partners LLC now owns 14,980 shares of the software maker’s stock worth $3,748,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Manhattan Associates stock traded down $4.03 during trading on Monday, reaching $294.25. The company had a trading volume of 182,067 shares, compared to its average volume of 407,987. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $307.50. The stock’s 50 day moving average price is $271.95 and its two-hundred day moving average price is $245.66. The firm has a market capitalization of $18.12 billion, a price-to-earnings ratio of 97.48 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. The company had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. As a group, research analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MANH. Loop Capital increased their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Truist Financial raised their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, DA Davidson boosted their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $271.71.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Company 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.