Wellington Management Group LLP Grows Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Wellington Management Group LLP lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,806 shares of the software maker’s stock after purchasing an additional 2,237 shares during the quarter. Wellington Management Group LLP owned 0.19% of Manhattan Associates worth $32,023,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Innealta Capital LLC purchased a new stake in Manhattan Associates during the second quarter valued at about $26,000. International Assets Investment Management LLC purchased a new stake in Manhattan Associates during the 2nd quarter valued at about $27,000. DT Investment Partners LLC bought a new position in Manhattan Associates during the 2nd quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates during the 2nd quarter worth approximately $31,000. Finally, Capital Performance Advisors LLP purchased a new position in Manhattan Associates in the 3rd quarter worth approximately $34,000. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on MANH. Truist Financial raised their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Citigroup raised their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Loop Capital boosted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird raised their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $309.78 on Friday. The firm has a market capitalization of $18.92 billion, a P/E ratio of 88.01 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $312.60. The company’s 50-day simple moving average is $285.94 and its 200 day simple moving average is $261.51.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same period in the previous year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

About Manhattan Associates

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.