Harbor Investment Advisory LLC Lowers Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Harbor Investment Advisory LLC lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 350 shares of the software maker’s stock after selling 67 shares during the period. Harbor Investment Advisory LLC’s holdings in Manhattan Associates were worth $95,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. HB Wealth Management LLC purchased a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $315,000. Merit Financial Group LLC purchased a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $436,000. West Coast Financial LLC lifted its position in shares of Manhattan Associates by 0.5% during the 4th quarter. West Coast Financial LLC now owns 42,369 shares of the software maker’s stock valued at $11,450,000 after buying an additional 207 shares in the last quarter. Carolina Wealth Advisors LLC lifted its position in shares of Manhattan Associates by 342.9% during the 4th quarter. Carolina Wealth Advisors LLC now owns 784 shares of the software maker’s stock valued at $212,000 after buying an additional 607 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. lifted its position in shares of Manhattan Associates by 3.9% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,273 shares of the software maker’s stock valued at $1,425,000 after buying an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. 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. Raymond James raised their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. 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 note on Wednesday, October 23rd. Piper Sandler started coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Finally, Truist Financial lifted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.89.

Insider Transactions at Manhattan Associates

In related news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $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 accessible through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the business’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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Down 0.0 %

NASDAQ MANH opened at $281.95 on Thursday. Manhattan Associates, Inc. has a 52 week low of $205.12 and a 52 week high of $312.60. The business’s fifty day simple moving average is $281.91 and its 200-day simple moving average is $270.80. The firm has a market cap of $17.22 billion, a PE ratio of 80.10 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $262.90 million. During the same quarter in the previous year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. Research analysts expect that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

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.