Ascent Group LLC Has $252,000 Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Ascent Group LLC grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 4.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 896 shares of the software maker’s stock after purchasing an additional 41 shares during the period. Ascent Group LLC’s holdings in Manhattan Associates were worth $252,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MANH. Fidelis Capital Partners LLC raised its position in Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after acquiring an additional 40 shares in the last quarter. UMB Bank n.a. raised its position in Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after acquiring an additional 43 shares in the last quarter. SkyView Investment Advisors LLC raised its position in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after acquiring an additional 46 shares in the last quarter. Huntington National Bank raised its position in Manhattan Associates by 5.9% during the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after acquiring an additional 49 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in Manhattan Associates by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after acquiring an additional 58 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on 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 sale, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction 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. This represents a 15.82 % 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 Trading Up 2.1 %

Shares of Manhattan Associates stock opened at $303.33 on Thursday. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50. The company’s fifty day simple moving average is $282.79 and its 200-day simple moving average is $258.27. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 86.17 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results 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. 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 in the previous year, the company earned $0.79 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MANH has been the topic of several recent research reports. Loop Capital raised their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler assumed coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. DA Davidson lifted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Raymond James lifted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $290.78.

Manhattan Associates Company 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.