Geode Capital Management LLC Acquires 82,995 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Geode Capital Management LLC raised its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,514,941 shares of the software maker's stock after purchasing an additional 82,995 shares during the quarter. Geode Capital Management LLC owned approximately 2.48% of Manhattan Associates worth $426,308,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several analysts recently issued reports on MANH shares. Truist Financial boosted their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, October 11th. DA Davidson boosted their target price 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. 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 research report on Wednesday, October 23rd. Robert W. Baird boosted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Finally, 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. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.78.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the business's stock in a transaction on 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 sale, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares of the company's stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded down $11.61 on Friday, reaching $298.17. 305,803 shares of the stock were exchanged, compared to its average volume of 413,238. The firm's 50 day moving average is $286.25 and its 200-day moving average is $262.25. The firm has a market cap of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share 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 firm had revenue of $266.70 million during the quarter, compared to analysts' expectations of $262.90 million. During the same period in the prior year, the company earned $0.79 earnings per share. The company's quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal 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.