Capstone Investment Advisors LLC Invests $219,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Capstone Investment Advisors LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 777 shares of the software maker’s stock, valued at approximately $219,000.

Other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA purchased a new stake in Manhattan Associates during the 3rd quarter worth approximately $234,249,000. Fiera Capital Corp bought a new stake in shares of Manhattan Associates in the second quarter worth $44,705,000. Squarepoint Ops LLC raised its holdings in Manhattan Associates by 448.9% in the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after acquiring an additional 131,381 shares in the last quarter. FMR LLC boosted its stake in Manhattan Associates by 7.3% during the 3rd quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after acquiring an additional 130,817 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Manhattan Associates by 118.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after acquiring an additional 94,283 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MANH has been the topic of a number of recent analyst reports. 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. Robert W. Baird upped their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their target price on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Citigroup upped their price target on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Piper Sandler started coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price for the company. Four 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, Manhattan Associates has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated 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 $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by insiders.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $285.44 on Friday. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The company has a 50-day simple moving average of $282.46 and a 200-day simple moving average of $256.85. The firm has a market capitalization of $17.43 billion, a P/E ratio of 81.09 and a beta of 1.52.

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

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.