Lifestyle Asset Management Inc. Acquires Shares of 3,324 Manhattan Associates, Inc. (NASDAQ:MANH)

Lifestyle Asset Management Inc. acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,324 shares of the software maker’s stock, valued at approximately $898,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MANH. Capital Performance Advisors LLP purchased a new position in Manhattan Associates in the 3rd quarter valued at about $34,000. Ashton Thomas Securities LLC purchased a new position in Manhattan Associates in the 3rd quarter valued at about $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $50,000. Brooklyn Investment Group acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $58,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $63,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Up 1.1 %

MANH opened at $284.96 on Friday. The company’s 50-day moving average price is $282.01 and its 200 day moving average price is $270.90. Manhattan Associates, Inc. has a fifty-two week low of $205.12 and a fifty-two week high of $312.60. The firm has a market cap of $17.41 billion, a price-to-earnings ratio of 80.95 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 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 analyst estimates of $262.90 million. During the same quarter last year, the business earned $0.79 earnings per share. Manhattan Associates’s revenue was up 11.9% compared to the same quarter last year. Research analysts anticipate that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MANH. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Truist Financial upped their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Robert W. Baird upped their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Raymond James upped their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $292.89.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

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.