Erste Asset Management GmbH Takes Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Erste Asset Management GmbH acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,625 shares of the software maker's stock, valued at approximately $5,796,000.

A number of other large investors have also modified their holdings of the company. FMR LLC raised its holdings in shares of Manhattan Associates by 7.3% in the 3rd 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 in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Manhattan Associates during the third quarter worth $234,249,000. Bank of New York Mellon Corp lifted its holdings in shares of Manhattan Associates by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker's stock valued at $149,023,000 after acquiring an additional 2,156 shares during the period. RGM Capital LLC boosted its stake 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 valued at $143,824,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings 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 worth $108,881,000 after purchasing an additional 76,378 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have weighed in on MANH shares. Loop Capital upped their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Raymond James raised their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Piper Sandler assumed coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an "overweight" rating and a $326.00 price objective on the stock. Truist Financial raised their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Finally, DA Davidson upped their price target 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. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus target price of $290.78.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $1,202,379.50. Following the completion of the sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Manhattan Associates Trading Up 3.7 %

Shares of MANH stock traded up $10.72 on Tuesday, hitting $297.09. The stock had a trading volume of 548,258 shares, compared to its average volume of 414,890. Manhattan Associates, Inc. has a twelve month low of $199.23 and a twelve month high of $307.50. The company has a fifty day moving average price of $282.57 and a two-hundred day moving average price of $257.79. The firm has a market cap of $18.15 billion, a P/E ratio of 84.40 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.06 by $0.29. The firm had revenue of $266.70 million during 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 company's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. On average, analysts expect that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

Manhattan Associates 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.