Handelsbanken Fonder AB Buys 2,500 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Handelsbanken Fonder AB increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 23.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,288 shares of the software maker’s stock after acquiring an additional 2,500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Manhattan Associates were worth $2,861,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC boosted its stake in Manhattan Associates by 22.0% during the third quarter. CWM LLC now owns 997 shares of the software maker’s stock worth $197,000 after buying an additional 180 shares in the last quarter. AE Wealth Management LLC boosted its stake in Manhattan Associates by 119.8% during the third quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock worth $647,000 after buying an additional 1,783 shares in the last quarter. SG Americas Securities LLC boosted its stake in Manhattan Associates by 61.5% during the third quarter. SG Americas Securities LLC now owns 9,287 shares of the software maker’s stock worth $1,836,000 after buying an additional 3,537 shares in the last quarter. DAVENPORT & Co LLC boosted its stake in Manhattan Associates by 1.2% during the third quarter. DAVENPORT & Co LLC now owns 5,220 shares of the software maker’s stock worth $1,032,000 after buying an additional 60 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Manhattan Associates by 474.4% during the third quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock worth $44,000 after buying an additional 185 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 0.3 %

Shares of NASDAQ MANH opened at $209.02 on Friday. The firm’s 50-day simple moving average is $244.34 and its 200 day simple moving average is $226.79. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. Manhattan Associates, Inc. has a 12-month low of $164.55 and a 12-month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. The business had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. On average, equities analysts expect that Manhattan Associates, Inc. will post 2.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MANH. Truist Financial lifted their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Citigroup reduced their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. DA Davidson upgraded shares of Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their target price for the company from $220.00 to $240.00 in a research note on Thursday. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday. Finally, Raymond James boosted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average target price of $234.86.

Insider Buying and Selling

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by corporate insiders.

Manhattan Associates Profile

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.