Inspire Investing LLC Raises Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Inspire Investing LLC increased its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,677 shares of the software maker’s stock after acquiring an additional 85 shares during the quarter. Inspire Investing LLC’s holdings in Manhattan Associates were worth $1,804,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Performance Advisors LLP acquired a new stake in Manhattan Associates in the 3rd quarter valued at approximately $34,000. Ashton Thomas Securities LLC acquired a new stake in Manhattan Associates in the 3rd quarter valued at $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at $50,000. Brooklyn Investment Group bought a new stake in Manhattan Associates during the third quarter worth about $58,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Manhattan Associates during the 3rd quarter worth approximately $63,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $281.95 on Thursday. The firm has a market capitalization of $17.22 billion, a P/E ratio of 80.10 and a beta of 1.52. Manhattan Associates, Inc. has a one year low of $205.12 and a one year high of $312.60. The company’s 50-day simple moving average is $281.91 and its 200 day simple moving average is $270.80.

Manhattan Associates (NASDAQ:MANH) last released its 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 company had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 EPS. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MANH has been the subject of a number of recent analyst reports. DA Davidson upped their price objective 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. Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Piper Sandler started coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Finally, Raymond James raised their price target on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $292.89.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on 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 completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’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 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. 0.72% of the stock is owned by company insiders.

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.