Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,806 shares of the software maker's stock after acquiring an additional 2,237 shares during the period. Wellington Management Group LLP owned approximately 0.19% of Manhattan Associates worth $32,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at approximately $27,000. DT Investment Partners LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at approximately $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at approximately $31,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates during the 3rd quarter valued at approximately $34,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MANH shares. Robert W. Baird boosted their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Citigroup boosted their target price on 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 began coverage on Manhattan Associates in a research report on Monday, November 25th. They issued an "overweight" rating and a $326.00 price objective on the stock. DA Davidson upped their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. Finally, Raymond James upped their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $290.78.

Insider Transactions at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the firm's stock in a transaction dated 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 completion of the transaction, the senior vice president now directly 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 document filed with the SEC, which is available through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $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. Company insiders own 0.72% of the company's stock.

Manhattan Associates Stock Down 4.4 %

Shares of NASDAQ MANH traded down $13.61 during mid-day trading on Friday, reaching $296.17. 127,824 shares of the company were exchanged, compared to its average volume of 412,469. The stock has a market cap of $18.09 billion, a price-to-earnings ratio of 88.01 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $312.60. The firm has a 50-day moving average of $285.94 and a 200 day moving average of $261.51.

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 for the quarter, topping analysts' consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm had revenue of $266.70 million during the quarter, compared to analysts' expectations of $262.90 million. During the same period in the prior year, the business posted $0.79 EPS. The firm's quarterly revenue was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

Manhattan Associates 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.