JPMorgan Chase & Co. Buys 687,933 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

JPMorgan Chase & Co. boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 213.7% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,009,913 shares of the software maker's stock after acquiring an additional 687,933 shares during the period. JPMorgan Chase & Co. owned 1.65% of Manhattan Associates worth $284,169,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in MANH. Massachusetts Financial Services Co. MA acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at approximately $234,249,000. Fiera Capital Corp bought a new stake in Manhattan Associates in the second quarter valued at approximately $44,705,000. Squarepoint Ops LLC raised its holdings in Manhattan Associates by 448.9% in the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker's stock worth $39,629,000 after purchasing an additional 131,381 shares during the period. FMR LLC boosted 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 purchasing an additional 130,817 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Manhattan Associates by 118.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker's stock valued at $48,860,000 after buying an additional 94,283 shares during the period. Institutional investors own 98.45% of the company's stock.

Insider Activity

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the company's stock in a transaction on 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 sale, the senior vice president now directly owns 22,086 shares of the company's stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction dated Tuesday, November 26th. The shares were 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 of the company's stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on MANH. Citigroup raised their price objective on Manhattan Associates from $287.00 to $306.00 and gave the stock a "neutral" rating in a research note on Monday, December 16th. Robert W. Baird boosted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Loop Capital raised their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 16th. Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an "overweight" rating and a $326.00 price target for the company. Finally, 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 report on Friday, October 11th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $292.89.

Manhattan Associates Price Performance

MANH stock traded down $4.05 during midday trading on Monday, hitting $271.14. The company's stock had a trading volume of 199,605 shares, compared to its average volume of 411,446. The company's fifty day moving average price is $283.72 and its 200 day moving average price is $267.00. Manhattan Associates, Inc. has a twelve month low of $199.23 and a twelve month high of $312.60. The stock has a market capitalization of $16.56 billion, a P/E ratio of 77.03 and a beta of 1.50.

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 (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. Manhattan Associates's revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.79 earnings per share. Equities analysts expect 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.