Wilmington Savings Fund Society FSB Makes New Investment in Manhattan Associates, Inc. (NASDAQ:MANH)

Wilmington Savings Fund Society FSB purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,784 shares of the software maker's stock, valued at approximately $502,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker's stock valued at $334,000 after purchasing an additional 382 shares during the period. Mediolanum International Funds Ltd boosted its holdings in shares of Manhattan Associates by 602.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker's stock worth $5,607,000 after buying an additional 17,187 shares during the period. Chartwell Investment Partners LLC grew its stake in Manhattan Associates by 31.1% in the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker's stock valued at $6,065,000 after buying an additional 5,119 shares during the last quarter. KBC Group NV raised its holdings in Manhattan Associates by 70.9% in the 3rd quarter. KBC Group NV now owns 28,355 shares of the software maker's stock worth $7,979,000 after acquiring an additional 11,762 shares during the period. Finally, Toronto Dominion Bank lifted its position in Manhattan Associates by 30.9% during the 3rd quarter. Toronto Dominion Bank now owns 7,842 shares of the software maker's stock worth $2,207,000 after acquiring an additional 1,850 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded down $5.82 during midday trading on Tuesday, reaching $295.06. 354,647 shares of the company's stock were exchanged, compared to its average volume of 412,308. The company's 50 day simple moving average is $286.65 and its two-hundred day simple moving average is $263.13. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $312.60. The firm has a market capitalization of $18.02 billion, a PE ratio of 85.48 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping 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 firm had revenue of $266.70 million during the quarter, compared to analysts' expectations of $262.90 million. During the same quarter last year, the company earned $0.79 earnings per share. The company's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts anticipate that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler initiated coverage on Manhattan Associates in a research report on Monday, November 25th. They issued an "overweight" rating and a $326.00 price target on the stock. Raymond James raised their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Citigroup upped their price target on Manhattan Associates from $287.00 to $306.00 and gave the stock a "neutral" rating in a report on Monday. Robert W. Baird raised their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Finally, Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.89.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction that occurred 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 owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % 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 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.