Verition Fund Management LLC Purchases New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Verition Fund Management LLC bought a new stake in 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 firm bought 3,520 shares of the software maker's stock, valued at approximately $990,000.

Several other institutional investors also recently modified their holdings of MANH. Innealta Capital LLC acquired a new position in Manhattan Associates in the second quarter valued at about $26,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates in the second quarter valued at about $27,000. DT Investment Partners LLC bought a new stake in shares of Manhattan Associates in the second quarter worth about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Manhattan Associates during the second quarter worth about $31,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates during the 3rd quarter valued at about $34,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on MANH. Truist Financial increased their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, October 11th. Raymond James upped their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Citigroup raised their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. DA Davidson upped their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Finally, Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.78.

Manhattan Associates Trading Down 1.0 %

Shares of NASDAQ:MANH traded down $2.89 during trading on Monday, hitting $299.70. 323,591 shares of the company were exchanged, compared to its average volume of 414,552. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The stock has a market cap of $18.31 billion, a price-to-earnings ratio of 85.14 and a beta of 1.51. The firm has a fifty day moving average price of $284.36 and a two-hundred day moving average price of $260.41.

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 business had revenue of $266.70 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, research analysts predict 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 stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm's stock in a transaction that occurred on 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 sale, the executive vice president now owns 42,812 shares of the company's stock, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

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.