MML Investors Services LLC lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 22.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,899 shares of the software maker's stock after purchasing an additional 2,030 shares during the period. MML Investors Services LLC's holdings in Manhattan Associates were worth $3,067,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Zacks Investment Management boosted its holdings in Manhattan Associates by 49.4% in the third quarter. Zacks Investment Management now owns 146,417 shares of the software maker's stock worth $41,199,000 after purchasing an additional 48,381 shares in the last quarter. DF Dent & Co. Inc. increased its holdings in shares of Manhattan Associates by 52.3% during the 3rd quarter. DF Dent & Co. Inc. now owns 238,628 shares of the software maker's stock valued at $67,145,000 after acquiring an additional 81,944 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Manhattan Associates by 291.5% in the 3rd quarter. National Bank of Canada FI now owns 971 shares of the software maker's stock valued at $273,000 after acquiring an additional 723 shares in the last quarter. iA Global Asset Management Inc. lifted its holdings in Manhattan Associates by 23.8% in the 3rd quarter. iA Global Asset Management Inc. now owns 1,160 shares of the software maker's stock worth $326,000 after purchasing an additional 223 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in Manhattan Associates during the third quarter worth approximately $495,000. 98.45% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on MANH. Truist Financial lifted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, October 11th. Raymond James boosted their target price 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. Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They set an "overweight" rating and a $326.00 price target for the company. Loop Capital lifted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Finally, Robert W. Baird increased their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of "Moderate Buy" and an average target price of $290.78.
Check Out Our Latest Report on Manhattan Associates
Manhattan Associates Trading Down 3.7 %
MANH traded down $11.61 on Friday, hitting $298.17. 305,803 shares of the stock traded hands, compared to its average volume of 413,238. The business has a fifty day moving average price of $286.25 and a two-hundred day moving average price of $262.54. Manhattan Associates, Inc. has a 52 week low of $199.23 and a 52 week high of $312.60. The firm has a market capitalization of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data 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 business had revenue of $266.70 million for the quarter, compared to analysts' expectations of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. Manhattan Associates's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.79 earnings per share. On average, equities research analysts forecast that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.
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 stock was 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 directly owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates 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 transaction, the executive vice president now directly owns 42,812 shares of the company's stock, valued at approximately $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.
Manhattan Associates Company Profile
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Free Report)
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.
See Also
![Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)](https://www.marketbeat.com/scripts/SECFilingChart.ashx?Prefix=NASDAQ&Symbol=MANH)
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