Dock Street Asset Management Inc. Has $19.10 Million Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Dock Street Asset Management Inc. boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 96.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 67,894 shares of the software maker's stock after purchasing an additional 33,282 shares during the quarter. Manhattan Associates comprises 2.6% of Dock Street Asset Management Inc.'s holdings, making the stock its 16th biggest position. Dock Street Asset Management Inc. owned approximately 0.11% of Manhattan Associates worth $19,104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sunbelt Securities Inc. boosted its stake in Manhattan Associates by 57.1% during the 1st quarter. Sunbelt Securities Inc. now owns 779 shares of the software maker's stock valued at $195,000 after purchasing an additional 283 shares in the last quarter. DGS Capital Management LLC grew its holdings in Manhattan Associates by 13.4% during the first quarter. DGS Capital Management LLC now owns 7,412 shares of the software maker's stock worth $1,855,000 after acquiring an additional 877 shares during the period. Janiczek Wealth Management LLC grew its holdings in Manhattan Associates by 4.6% during the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker's stock worth $373,000 after acquiring an additional 65 shares during the period. Capital Insight Partners LLC raised its position in Manhattan Associates by 0.7% in the first quarter. Capital Insight Partners LLC now owns 14,980 shares of the software maker's stock worth $3,748,000 after acquiring an additional 106 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in Manhattan Associates by 67.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,312 shares of the software maker's stock valued at $829,000 after acquiring an additional 1,337 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Down 1.1 %

Shares of MANH stock traded down $3.22 on Tuesday, hitting $292.32. The stock had a trading volume of 745,926 shares, compared to its average volume of 411,432. The firm has a market cap of $18.00 billion, a P/E ratio of 95.53 and a beta of 1.50. The company has a fifty day moving average price of $272.92 and a two-hundred day moving average price of $246.07. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $307.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. Manhattan Associates's revenue was up 14.8% on a year-over-year basis. On average, analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the company's stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MANH shares. Citigroup lifted their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Truist Financial boosted their price target 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. Loop Capital raised their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a research note on Monday, September 16th. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research note on Tuesday. Finally, DA Davidson increased their target price on Manhattan Associates from $260.00 to $285.00 and gave the company a "buy" rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $275.75.

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.