20,625 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Purchased by Erste Asset Management GmbH

Erste Asset Management GmbH acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,625 shares of the software maker’s stock, valued at approximately $5,796,000.

Several other large investors have also bought and sold shares of MANH. Janus Henderson Group PLC lifted its stake in shares of Manhattan Associates by 18.7% in the 1st quarter. Janus Henderson Group PLC now owns 2,746 shares of the software maker’s stock valued at $687,000 after purchasing an additional 432 shares during the period. Atria Investments Inc lifted its position in Manhattan Associates by 3.3% during the first quarter. Atria Investments Inc now owns 5,574 shares of the software maker’s stock valued at $1,395,000 after buying an additional 177 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Manhattan Associates by 11.4% during the 2nd quarter. GAMMA Investing LLC now owns 804 shares of the software maker’s stock valued at $198,000 after buying an additional 82 shares in the last quarter. DNB Asset Management AS grew its position in shares of Manhattan Associates by 11.3% in the 2nd quarter. DNB Asset Management AS now owns 9,734 shares of the software maker’s stock worth $2,401,000 after buying an additional 989 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Manhattan Associates in the 2nd quarter worth about $37,000. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $286.37 on Tuesday. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The business’s fifty day moving average is $282.46 and its 200 day moving average is $257.37. The stock has a market capitalization of $17.49 billion, a PE ratio of 81.36 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the firm posted $0.79 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MANH. Piper Sandler began coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective on the stock. Loop Capital upped their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Robert W. Baird lifted their price objective on 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 increased their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Truist Financial lifted their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $290.78.

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 dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Company insiders own 0.72% 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.