Edgestream Partners L.P. Raises Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Edgestream Partners L.P. raised its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 41.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 13,302 shares of the software maker's stock after purchasing an additional 3,905 shares during the quarter. Edgestream Partners L.P.'s holdings in Manhattan Associates were worth $3,743,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker's stock worth $539,521,000 after buying an additional 130,817 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Manhattan Associates during the third quarter valued at $234,249,000. Bank of New York Mellon Corp grew its holdings in Manhattan Associates by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker's stock worth $149,023,000 after acquiring an additional 2,156 shares during the period. RGM Capital LLC raised its position in shares of Manhattan Associates by 4.1% in the 2nd quarter. RGM Capital LLC now owns 583,037 shares of the software maker's stock worth $143,824,000 after acquiring an additional 23,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Manhattan Associates by 20.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker's stock valued at $108,881,000 after purchasing an additional 76,378 shares during the period. Institutional investors own 98.45% of the company's stock.

Insider Buying and Selling at Manhattan Associates

In related 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 completion of the sale, the executive vice president now owns 42,812 shares of the company's stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MANH. Loop Capital raised their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Truist Financial raised their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. Robert W. Baird boosted their target price 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. Raymond James raised their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a report on Wednesday, October 23rd. Finally, Piper Sandler started coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They issued an "overweight" rating and a $326.00 price target for the company. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.78.

Manhattan Associates Trading Up 0.3 %

Shares of MANH traded up $0.93 on Monday, reaching $286.37. 319,236 shares of the company's stock traded hands, compared to its average volume of 414,314. The stock's 50 day simple moving average is $282.46 and its two-hundred day simple moving average is $257.37. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50. The stock has a market cap of $17.49 billion, a PE ratio of 81.09 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH - Get Free Report) 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 return on equity of 84.55% and a net margin of 21.38%. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 EPS. Analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

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.