Fiduciary Trust Co Buys 1,761 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Fiduciary Trust Co boosted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 109.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,377 shares of the software maker’s stock after purchasing an additional 1,761 shares during the period. Fiduciary Trust Co’s holdings in Manhattan Associates were worth $950,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after buying an additional 130,817 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Manhattan Associates during the 3rd quarter worth approximately $234,249,000. Bank of New York Mellon Corp grew its stake in shares of Manhattan Associates by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after acquiring an additional 2,156 shares in the last quarter. RGM Capital LLC raised its holdings in shares of Manhattan Associates by 4.1% in the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock valued at $143,824,000 after purchasing an additional 23,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Manhattan Associates by 20.9% in the second quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker’s stock worth $108,881,000 after purchasing an additional 76,378 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Down 0.8 %

MANH opened at $285.44 on Friday. The stock’s fifty day simple moving average is $282.27 and its 200 day simple moving average is $256.35. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The stock has a market cap of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The company’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.79 earnings per share. Equities analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Insider Transactions at Manhattan Associates

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 transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on MANH shares. Piper Sandler started coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital upped their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Robert W. Baird increased their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $290.78.

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.