Manhattan Associates, Inc. (NASDAQ:MANH) Stock Position Increased by Fmr LLC

FMR LLC increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 7.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,917,412 shares of the software maker's stock after purchasing an additional 130,817 shares during the quarter. FMR LLC owned approximately 3.14% of Manhattan Associates worth $539,521,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MANH. Innealta Capital LLC acquired a new stake in shares of Manhattan Associates in the second quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth approximately $27,000. Capital Performance Advisors LLP acquired a new stake in Manhattan Associates during the 3rd quarter worth approximately $34,000. Ashton Thomas Private Wealth LLC purchased a new position in Manhattan Associates in the second quarter valued at approximately $31,000. Finally, DT Investment Partners LLC acquired a new position in Manhattan Associates during the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Truist Financial raised their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Raymond James boosted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Citigroup upped their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Piper Sandler initiated coverage on Manhattan Associates in a research report on Monday, November 25th. They set an "overweight" rating and a $326.00 price target on the stock. Finally, Loop Capital upped their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $290.78.

Manhattan Associates Trading Down 0.8 %

NASDAQ MANH traded down $2.24 during trading hours on Friday, reaching $285.44. 171,170 shares of the company traded hands, compared to its average volume of 414,707. The stock has a market capitalization of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50. The company has a 50 day moving average of $282.46 and a two-hundred day moving average of $256.85.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly 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. 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 during the quarter, compared to the consensus estimate of $262.90 million. During the same period last year, the firm earned $0.79 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.4 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.