Highland Capital Management LLC Purchases New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Highland Capital Management LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,304 shares of the software maker’s stock, valued at approximately $1,142,000.

Other hedge funds also recently bought and sold shares of the company. Morgan Stanley boosted its position in Manhattan Associates by 302.2% during the 4th quarter. Morgan Stanley now owns 1,361,946 shares of the software maker’s stock valued at $165,340,000 after acquiring an additional 1,023,285 shares in the last quarter. BlackRock Inc. boosted its position in Manhattan Associates by 13.5% during the 1st quarter. BlackRock Inc. now owns 7,461,771 shares of the software maker’s stock valued at $1,155,455,000 after acquiring an additional 888,755 shares in the last quarter. Norges Bank bought a new stake in Manhattan Associates during the 4th quarter valued at approximately $81,289,000. California Public Employees Retirement System boosted its position in Manhattan Associates by 184.3% during the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock valued at $69,708,000 after acquiring an additional 228,618 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Manhattan Associates by 37.9% during the 2nd quarter. Goldman Sachs Group Inc. now owns 819,305 shares of the software maker’s stock valued at $93,892,000 after acquiring an additional 225,136 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 0.1 %

Shares of NASDAQ MANH opened at $249.73 on Thursday. Manhattan Associates, Inc. has a twelve month low of $146.81 and a twelve month high of $266.94. The firm has a market cap of $15.38 billion, a P/E ratio of 88.56 and a beta of 1.44. The company has a 50 day moving average of $244.86 and a 200 day moving average of $221.65.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. The company had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. As a group, equities analysts expect that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MANH has been the topic of a number of analyst reports. StockNews.com raised Manhattan Associates from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Citigroup initiated coverage on Manhattan Associates in a research report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price target on the stock. Raymond James boosted their price target on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Truist Financial boosted their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Rosenblatt Securities boosted their price target on Manhattan Associates from $215.00 to $225.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $231.29.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were 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 in the company, valued at approximately $14,207,022.12. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were 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 in the company, valued at approximately $14,207,022.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

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.