Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by MML Investors Services LLC

MML Investors Services LLC lifted its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 22.9% in the 3rd quarter, Holdings Channel reports. The firm owned 10,899 shares of the software maker’s stock after purchasing an additional 2,030 shares during the quarter. MML Investors Services LLC’s holdings in Manhattan Associates were worth $3,067,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MANH. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Manhattan Associates by 15.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,080 shares of the software maker’s stock valued at $513,000 after purchasing an additional 280 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Manhattan Associates by 26.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,348 shares of the software maker’s stock valued at $1,319,000 after purchasing an additional 1,105 shares during the period. Blue Trust Inc. lifted its stake in shares of Manhattan Associates by 238.4% in the second quarter. Blue Trust Inc. now owns 555 shares of the software maker’s stock valued at $139,000 after purchasing an additional 391 shares during the period. Chesley Taft & Associates LLC lifted its stake in shares of Manhattan Associates by 20.8% in the second quarter. Chesley Taft & Associates LLC now owns 2,035 shares of the software maker’s stock valued at $502,000 after purchasing an additional 351 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Manhattan Associates by 16.9% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,872 shares of the software maker’s stock valued at $955,000 after purchasing an additional 560 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $298.17 on Friday. The company has a market cap of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $312.60. The company has a 50-day simple moving average of $286.25 and a 200-day simple moving average of $262.25.

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

Analyst Ratings Changes

MANH has been the subject of several recent analyst reports. Citigroup raised their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. DA Davidson lifted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Raymond James lifted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Loop Capital lifted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company 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.