Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Optimist Retirement Group LLC

Optimist Retirement Group LLC grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 916 shares of the software maker’s stock after acquiring an additional 76 shares during the quarter. Optimist Retirement Group LLC’s holdings in Manhattan Associates were worth $258,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fidelis Capital Partners LLC grew its holdings in shares of Manhattan Associates by 3.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after purchasing an additional 40 shares during the period. Ascent Group LLC grew its holdings in shares of Manhattan Associates by 4.8% during the 3rd quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock worth $252,000 after purchasing an additional 41 shares during the period. UMB Bank n.a. grew its holdings in shares of Manhattan Associates by 16.7% during the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after purchasing an additional 43 shares during the period. SkyView Investment Advisors LLC boosted its holdings in Manhattan Associates by 0.9% during the 2nd quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after acquiring an additional 46 shares during the period. Finally, Huntington National Bank boosted its holdings in Manhattan Associates by 5.9% during the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after acquiring an additional 49 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Up 0.2 %

Shares of Manhattan Associates stock traded up $0.58 during trading on Thursday, reaching $301.25. The company’s stock had a trading volume of 14,004 shares, compared to its average volume of 411,993. The business has a 50 day moving average price of $285.29 and a 200-day moving average price of $261.17. The company has a market capitalization of $18.40 billion, a P/E ratio of 85.42 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.29. The business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 EPS. Research analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on MANH. Piper Sandler started coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price for the company. Raymond James raised their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird lifted their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Truist Financial lifted their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $290.78.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the business’s 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 of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate 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.