DNB Asset Management AS Boosts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

DNB Asset Management AS raised its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 11.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,734 shares of the software maker’s stock after buying an additional 989 shares during the period. DNB Asset Management AS’s holdings in Manhattan Associates were worth $2,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in Manhattan Associates by 28.8% in the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after buying an additional 46 shares during the last quarter. Accurate Wealth Management LLC raised its stake in shares of Manhattan Associates by 4.1% in the 1st quarter. Accurate Wealth Management LLC now owns 1,371 shares of the software maker’s stock valued at $343,000 after purchasing an additional 54 shares in the last quarter. iA Global Asset Management Inc. raised its stake in shares of Manhattan Associates by 9.7% in the 1st quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock valued at $182,000 after purchasing an additional 64 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in shares of Manhattan Associates by 4.6% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock valued at $373,000 after purchasing an additional 65 shares in the last quarter. Finally, QRG Capital Management Inc. raised its stake in shares of Manhattan Associates by 3.4% in the 4th quarter. QRG Capital Management Inc. now owns 2,424 shares of the software maker’s stock valued at $522,000 after purchasing an additional 80 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded up $2.23 during trading hours on Tuesday, hitting $241.09. The stock had a trading volume of 284,590 shares, compared to its average volume of 427,961. The stock’s fifty day simple moving average is $236.12 and its 200 day simple moving average is $236.42. Manhattan Associates, Inc. has a 1-year low of $182.97 and a 1-year high of $266.94. The firm has a market capitalization of $14.84 billion, a price-to-earnings ratio of 80.60 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. The company had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.63 earnings per share. As a group, research analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Wall Street Analyst Weigh In

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 Thursday, August 1st. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research note on Wednesday, April 24th. Loop Capital upped their target price on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, DA Davidson increased their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.43.

Insider Activity

In other news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the transaction, the executive vice president now directly owns 46,287 shares in the company, valued at $11,872,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

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.