Legal & General Group Plc Buys Shares of 88,393 Manhattan Associates, Inc. $MANH

Legal & General Group Plc purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 88,393 shares of the software maker’s stock, valued at approximately $12,309,000.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Manhattan Associates in the 2nd quarter worth approximately $944,285,000. Norges Bank acquired a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $124,264,000. William Blair Investment Management LLC bought a new stake in Manhattan Associates during the second quarter worth approximately $94,049,000. T. Rowe Price Investment Management Inc. raised its holdings in Manhattan Associates by 35.2% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after purchasing an additional 671,589 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Manhattan Associates in the second quarter worth approximately $54,011,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Eric Andrew Clark sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the transaction, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 9,139 shares of company stock valued at $1,744,879. Insiders own 0.84% of the company’s stock.

Manhattan Associates Trading Down 0.0%

NASDAQ:MANH opened at $223.19 on Tuesday. The business’s fifty day moving average price is $175.85 and its 200 day moving average price is $151.67. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of 63.95 and a beta of 0.93. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $227.03.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.07. The company had revenue of $297.79 million for the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.31 EPS. Equities analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MANH shares. Robert W. Baird boosted their price objective on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Morgan Stanley set a $180.00 price target on shares of Manhattan Associates in a report on Wednesday, July 29th. DA Davidson raised their price objective on shares of Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $213.40.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.