Van ECK Associates Corp Has $143,000 Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Van ECK Associates Corp raised its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 135.5% in the 2nd quarter, Holdings Channel.com reports. The fund owned 989 shares of the software maker’s stock after buying an additional 569 shares during the quarter. Van ECK Associates Corp’s holdings in Manhattan Associates were worth $143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Stephens Inc. AR raised its holdings in shares of Manhattan Associates by 3.4% during the 1st quarter. Stephens Inc. AR now owns 2,465 shares of the software maker’s stock worth $289,000 after buying an additional 80 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Manhattan Associates by 4.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,184 shares of the software maker’s stock worth $316,000 after buying an additional 86 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Manhattan Associates by 2.0% during the 1st quarter. Bessemer Group Inc. now owns 4,415 shares of the software maker’s stock worth $518,000 after buying an additional 88 shares in the last quarter. Cigna Investments Inc. New raised its holdings in shares of Manhattan Associates by 4.1% during the 1st quarter. Cigna Investments Inc. New now owns 2,348 shares of the software maker’s stock worth $276,000 after buying an additional 93 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Manhattan Associates by 0.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 19,864 shares of the software maker’s stock worth $2,332,000 after buying an additional 139 shares in the last quarter. 96.61% of the stock is owned by hedge funds and other institutional investors.

In other news, Director John J. Huntz, Jr. sold 5,000 shares of the business’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $162.33, for a total value of $811,650.00. Following the transaction, the director now directly owns 64,808 shares of the company’s stock, valued at approximately $10,520,282.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas E. Noonan sold 20,000 shares of the business’s stock in a transaction dated Friday, August 27th. The shares were sold at an average price of $165.66, for a total value of $3,313,200.00. Following the completion of the transaction, the director now directly owns 107,969 shares in the company, valued at $17,886,144.54. The disclosure for this sale can be found here. Insiders own 0.77% of the company’s stock.

NASDAQ MANH opened at $160.56 on Friday. The business’s 50-day moving average price is $158.68 and its two-hundred day moving average price is $141.37. Manhattan Associates, Inc. has a 12 month low of $83.74 and a 12 month high of $167.75. The firm has a market capitalization of $10.18 billion, a PE ratio of 104.26 and a beta of 1.98.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Monday, July 26th. The software maker reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.18. Manhattan Associates had a return on equity of 46.33% and a net margin of 15.93%. The firm had revenue of $166.11 million for the quarter, compared to analyst estimates of $156.98 million. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue was up 22.5% on a year-over-year basis. On average, analysts forecast that Manhattan Associates, Inc. will post 1.49 earnings per share for the current year.

MANH has been the subject of a number of research analyst reports. TheStreet cut Manhattan Associates from a “b” rating to a “c+” rating in a report on Tuesday. Benchmark boosted their price objective on Manhattan Associates from $165.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, August 30th. Truist Securities boosted their price objective on Manhattan Associates from $172.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, August 30th. Truist boosted their price objective on Manhattan Associates from $172.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, August 30th. Finally, Rosenblatt Securities boosted their price objective on Manhattan Associates from $165.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 28th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $177.71.

Manhattan Associates Profile

Manhattan Associates, Inc engages in designing, building and delivering supply chain commerce solutions by converging front-end sales with back-end supply chain. It operates through the following geographical segments: The Americas, Europe, Middle East and Africa and Asia Pacific. The company was founded by Deepak Raghavan in October 1990 and is headquartered in Atlanta, GA.

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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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