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

Fmr LLC boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 7.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,917,412 shares of the software maker’s stock after purchasing an additional 130,817 shares during the quarter. Fmr LLC owned approximately 3.14% of Manhattan Associates worth $539,521,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter worth $26,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates during the 2nd quarter worth about $27,000. DT Investment Partners LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates during the 2nd quarter worth about $31,000. Finally, Capital Performance Advisors LLP purchased a new stake in Manhattan Associates during the third quarter worth approximately $34,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.8 %

NASDAQ:MANH opened at $285.44 on Friday. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $307.50. The stock’s 50 day simple moving average is $282.27 and its 200-day simple moving average is $256.35. The firm has a market cap of $17.43 billion, a P/E ratio of 81.09 and a beta of 1.52.

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 for the quarter, compared to analysts’ expectations of $262.90 million. During the same period in the previous year, the company posted $0.79 EPS. Manhattan Associates’s revenue was up 11.9% compared to the same quarter last year. Research analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MANH has been the topic of a number of research analyst reports. Loop Capital raised their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Truist Financial boosted their price target 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 raised their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird raised their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four investment 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, the company presently has an average rating of “Moderate Buy” and an average target price of $290.78.

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.