Oak Thistle LLC Invests $1.33 Million in Manhattan Associates, Inc. (NASDAQ:MANH)

Oak Thistle LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,906 shares of the software maker's stock, valued at approximately $1,326,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp grew its stake in Manhattan Associates by 0.6% in the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker's stock worth $619,918,000 after buying an additional 12,787 shares in the last quarter. FMR LLC increased its stake in Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker's stock valued at $539,521,000 after acquiring an additional 130,817 shares during the last quarter. Geode Capital Management LLC raised its position in Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker's stock valued at $426,308,000 after purchasing an additional 82,995 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Manhattan Associates by 213.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker's stock worth $284,169,000 after purchasing an additional 687,933 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Manhattan Associates during the 3rd quarter valued at about $234,249,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup upped their target price 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 increased their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. StockNews.com downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Monday. Truist Financial raised their price objective on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Finally, Piper Sandler began coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an "overweight" rating and a $326.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $292.89.

Manhattan Associates Stock Up 1.3 %

Shares of MANH traded up $3.46 during mid-day trading on Wednesday, hitting $274.46. 415,366 shares of the company's stock traded hands, compared to its average volume of 326,341. The firm has a market capitalization of $16.76 billion, a P/E ratio of 77.97 and a beta of 1.52. The business's 50-day moving average price is $282.75 and its 200-day moving average price is $269.68. Manhattan Associates, Inc. has a 1 year low of $205.12 and a 1 year high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued 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. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same period in the previous year, the firm earned $0.79 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

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.