Kovitz Investment Group Partners LLC Invests $495,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Kovitz Investment Group Partners LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,758 shares of the software maker's stock, valued at approximately $495,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in Manhattan Associates by 47.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker's stock worth $334,000 after acquiring an additional 382 shares during the period. Boston Trust Walden Corp increased its holdings in Manhattan Associates by 3.3% in the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker's stock valued at $27,022,000 after purchasing an additional 3,525 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in Manhattan Associates by 602.0% in the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker's stock valued at $5,607,000 after buying an additional 17,187 shares during the period. Chartwell Investment Partners LLC boosted its holdings in Manhattan Associates by 31.1% during the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker's stock worth $6,065,000 after buying an additional 5,119 shares during the last quarter. Finally, KBC Group NV boosted its holdings in Manhattan Associates by 70.9% during the third quarter. KBC Group NV now owns 28,355 shares of the software maker's stock worth $7,979,000 after buying an additional 11,762 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Trading Down 4.6 %

NASDAQ:MANH traded down $14.19 on Friday, hitting $295.59. The company's stock had a trading volume of 158,567 shares, compared to its average volume of 412,613. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $312.60. The firm has a market capitalization of $18.05 billion, a P/E ratio of 88.01 and a beta of 1.50. The stock has a fifty day moving average of $285.94 and a two-hundred day moving average of $261.51.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.29. The business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The company's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.79 EPS. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Insider Activity

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The shares were 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 owns 42,812 shares of the company's stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MANH. Citigroup increased their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. 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 price target on the stock. Raymond James raised 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. DA Davidson upped 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. Finally, Robert W. Baird upped their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $290.78.

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.