Carolina Wealth Advisors LLC Purchases 607 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Carolina Wealth Advisors LLC boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 342.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 784 shares of the software maker’s stock after purchasing an additional 607 shares during the period. Carolina Wealth Advisors LLC’s holdings in Manhattan Associates were worth $212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in Manhattan Associates during the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC bought a new position in Manhattan Associates during the 3rd quarter valued at approximately $42,000. Brooklyn Investment Group bought a new position in Manhattan Associates during the 3rd quarter valued at approximately $58,000. Whittier Trust Co. of Nevada Inc. bought a new position in Manhattan Associates during the 3rd quarter valued at approximately $63,000. Finally, FSC Wealth Advisors LLC bought a new position in Manhattan Associates during the 3rd quarter valued at approximately $66,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $274.46 on Thursday. The company has a market capitalization of $16.76 billion, a PE ratio of 77.97 and a beta of 1.52. The business’s fifty day moving average is $282.62 and its 200 day moving average is $269.71. Manhattan Associates, Inc. has a fifty-two week low of $205.12 and a fifty-two week high of $312.60.

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

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates 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 sale, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MANH. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Citigroup lifted their target price on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. DA Davidson lifted their target price on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Raymond James lifted their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, Truist Financial raised their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $292.89.

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.