Circle Wealth Management LLC Takes $952,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Circle Wealth Management LLC purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,384 shares of the software maker’s stock, valued at approximately $952,000.

Several other hedge funds have also recently made changes to their positions in the stock. Innealta Capital LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter worth $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $27,000. DT Investment Partners LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at about $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates in the 2nd quarter worth approximately $31,000. Finally, Capital Performance Advisors LLP bought a new stake in Manhattan Associates during the third quarter valued at approximately $34,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Down 0.8 %

NASDAQ:MANH opened at $285.44 on Friday. The company has a market cap of $17.43 billion, a price-to-earnings ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a twelve month low of $199.23 and a twelve month high of $307.50. The stock has a fifty day simple moving average of $282.27 and a 200-day simple moving average of $256.35.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the prior year, the company earned $0.79 EPS. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts predict that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Insider Buying and Selling

In other news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates 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 transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on MANH shares. Citigroup boosted their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Piper Sandler initiated coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Raymond James increased their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial lifted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Robert W. Baird increased their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $290.78.

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.