E. Ohman J or Asset Management AB Increases Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

E. Ohman J or Asset Management AB increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 23.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,850 shares of the software maker’s stock after purchasing an additional 550 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Manhattan Associates were worth $802,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tobam purchased a new stake in Manhattan Associates during the 1st quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in Manhattan Associates during the second quarter valued at $26,000. International Assets Investment Management LLC bought a new stake in Manhattan Associates in the 2nd quarter valued at $27,000. DT Investment Partners LLC purchased a new stake in Manhattan Associates in the 2nd quarter worth $31,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at about $31,000. Institutional investors own 98.45% of the company’s stock.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on MANH shares. Citigroup lifted their target price 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 lifted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday. Loop Capital increased their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research 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 stock a “buy” rating in a research report on Friday, October 11th. Finally, DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.38.

Manhattan Associates Stock Up 0.8 %

NASDAQ MANH opened at $275.70 on Friday. Manhattan Associates, Inc. has a 52 week low of $186.77 and a 52 week high of $307.50. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 78.32 and a beta of 1.50. The company has a fifty day moving average of $274.95 and a two-hundred day moving average of $247.04.

Manhattan Associates (NASDAQ:MANH) last released 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. The firm had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 86.65%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 EPS. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

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.