Geode Capital Management LLC Buys 82,995 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Geode Capital Management LLC boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 5.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,514,941 shares of the software maker’s stock after buying an additional 82,995 shares during the quarter. Geode Capital Management LLC owned approximately 2.48% of Manhattan Associates worth $426,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Manhattan Associates during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates in the 2nd quarter worth about $27,000. DT Investment Partners LLC purchased a new position in shares of Manhattan Associates during the second quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC purchased a new position in Manhattan Associates during the second quarter valued at $31,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Manhattan Associates in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of MANH opened at $298.17 on Friday. The company has a 50-day moving average of $286.25 and a 200 day moving average of $262.00. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $312.60. The firm has a market capitalization of $18.21 billion, a price-to-earnings ratio of 84.71 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 earnings per share. On average, equities analysts anticipate that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. DA Davidson boosted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Citigroup raised their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Truist Financial boosted their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Loop Capital lifted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Piper Sandler assumed coverage on Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

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.