Berry Wealth Group LP Has $225,000 Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Berry Wealth Group LP reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 799 shares of the software maker’s stock after selling 62 shares during the quarter. Berry Wealth Group LP’s holdings in Manhattan Associates were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. M&G Plc acquired a new position in Manhattan Associates during the first quarter valued at approximately $77,433,000. Fiera Capital Corp bought a new stake in shares of Manhattan Associates during the 2nd quarter worth $44,705,000. Squarepoint Ops LLC lifted its position in shares of Manhattan Associates by 448.9% during the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after buying an additional 131,381 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in Manhattan Associates by 173.2% in the first quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock valued at $40,893,000 after buying an additional 103,645 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Manhattan Associates by 118.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after acquiring an additional 94,283 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ MANH traded down $3.90 on Monday, reaching $294.38. The company had a trading volume of 230,185 shares, compared to its average volume of 408,224. The firm has a market cap of $18.12 billion, a price-to-earnings ratio of 97.48 and a beta of 1.50. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $307.50. The business has a 50 day moving average of $271.95 and a two-hundred day moving average of $245.66.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.22. The company had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. As a group, research analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Loop Capital raised their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Truist Financial upped their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Citigroup increased their price target on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, DA Davidson upped their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $271.71.

About Manhattan Associates

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.