Arete Wealth Advisors LLC Takes $208,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Arete Wealth Advisors LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 741 shares of the software maker’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC boosted its stake in shares of Manhattan Associates by 3.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after acquiring an additional 40 shares in the last quarter. Ascent Group LLC raised its holdings in Manhattan Associates by 4.8% in the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. boosted its position in Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after purchasing an additional 43 shares in the last quarter. SkyView Investment Advisors LLC grew its holdings in Manhattan Associates by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after purchasing an additional 46 shares during the period. Finally, Huntington National Bank increased its position in shares of Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after buying an additional 49 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $298.17 on Friday. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $312.60. The stock has a market cap of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50. The stock has a 50 day moving average price of $286.25 and a 200 day moving average price of $262.25.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. As a group, analysts predict that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MANH. DA Davidson increased their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial lifted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Citigroup upped their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Raymond James lifted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Loop Capital increased their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Insider Buying and Selling at Manhattan Associates

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

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.