Kestra Investment Management LLC Acquires New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Kestra Investment Management LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,998 shares of the software maker's stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MANH. FMR LLC lifted its stake in 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 during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Manhattan Associates during the 3rd quarter valued at about $234,249,000. Bank of New York Mellon Corp raised its stake in 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 worth $149,023,000 after acquiring an additional 2,156 shares during the period. RGM Capital LLC lifted its holdings 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 worth $143,824,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Manhattan Associates by 20.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker's stock worth $108,881,000 after buying an additional 76,378 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. DA Davidson boosted their price target 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. Citigroup upped their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a report on Monday, September 16th. 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 report on Wednesday, October 23rd. Finally, 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 report on Friday, October 11th. 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.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $290.78.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded down $2.32 during trading hours on Monday, hitting $283.12. 87,807 shares of the company's stock traded hands, compared to its average volume of 413,262. The company's fifty day simple moving average is $282.46 and its two-hundred day simple moving average is $257.37. The company has a market cap of $17.29 billion, a price-to-earnings ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a 52 week low of $199.23 and a 52 week high of $307.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping 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 net margin of 21.38% and a return on equity of 84.55%. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. On average, analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the firm's 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company's stock.

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.