Manhattan Associates, Inc. (NASDAQ:MANH) Stake Increased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,622 shares of the software maker’s stock after purchasing an additional 16,556 shares during the period. Los Angeles Capital Management LLC owned approximately 0.62% of Manhattan Associates worth $82,601,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Manhattan Associates by 59.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after acquiring an additional 8,094 shares in the last quarter. Highland Capital Management LLC purchased a new stake in shares of Manhattan Associates during the fourth quarter worth $1,142,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Manhattan Associates during the fourth quarter worth $1,050,000. Meeder Asset Management Inc. purchased a new stake in shares of Manhattan Associates during the fourth quarter worth $2,039,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Manhattan Associates during the fourth quarter worth $3,725,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP James Stewart Gantt sold 680 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on MANH. Truist Financial increased their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Rosenblatt Securities restated a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a report on Wednesday, April 24th. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Raymond James raised their target price on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Finally, DA Davidson upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and raised their target price for the company from $220.00 to $240.00 in a report on Thursday, April 25th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $234.86.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded up $2.23 during trading hours on Thursday, hitting $210.00. 133,099 shares of the company’s stock were exchanged, compared to its average volume of 390,459. Manhattan Associates, Inc. has a 1-year low of $166.82 and a 1-year high of $266.94. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 67.90 and a beta of 1.45. The company’s 50-day moving average price is $241.55 and its 200-day moving average price is $226.98.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The business had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. On average, research analysts expect that Manhattan Associates, Inc. will post 2.72 earnings per share for the current year.

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.