Investment Management Corp of Ontario Increases Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Investment Management Corp of Ontario boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 621.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,291 shares of the software maker's stock after purchasing an additional 8,004 shares during the period. Investment Management Corp of Ontario's holdings in Manhattan Associates were worth $2,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MANH shares. Raymond James lifted their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. DA Davidson lifted their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Truist Financial lifted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a report on Friday, October 11th. Citigroup lifted their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Finally, Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of "Moderate Buy" and a consensus target price of $290.78.

Insiders Place Their Bets

In other news, SVP Bruce Richards sold 4,150 shares of the business's stock in a transaction dated 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 owns 22,086 shares of the company's stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.72% of the company's stock.

Manhattan Associates Stock Performance

NASDAQ MANH traded down $0.73 on Thursday, reaching $302.60. 511,663 shares of the company's stock traded hands, compared to its average volume of 415,249. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 86.18 and a beta of 1.50. The stock has a 50 day moving average price of $283.17 and a 200-day moving average price of $258.59. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50.

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 company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 earnings per share. As a group, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal 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.