Ritholtz Wealth Management lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 180.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,484 shares of the software maker’s stock after acquiring an additional 2,242 shares during the quarter. Ritholtz Wealth Management’s holdings in Manhattan Associates were worth $750,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. ST Germain D J Co. Inc. acquired a new position in shares of Manhattan Associates in the second quarter valued at $44,000. UMB Bank n.a. grew its stake in Manhattan Associates by 474.4% in the 3rd quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock valued at $44,000 after buying an additional 185 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Manhattan Associates in the 2nd quarter valued at about $36,000. First Capital Advisors Group LLC. acquired a new stake in Manhattan Associates during the second quarter worth approximately $65,000. Finally, Compass Wealth Management LLC bought a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $42,000. 98.45% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Manhattan Associates
In other news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at approximately $14,207,022.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, 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. Company insiders own 0.85% of the company’s stock.
Wall Street Analyst Weigh In
MANH has been the subject of several research reports. Rosenblatt Securities lifted their price target on Manhattan Associates from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. StockNews.com upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. Citigroup started coverage on shares of Manhattan Associates in a research report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price target for the company. Truist Financial increased their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Finally, Raymond James upped their target price on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $231.29.
Check Out Our Latest Research Report on MANH
Manhattan Associates Stock Performance
Shares of MANH opened at $250.23 on Friday. Manhattan Associates, Inc. has a 52-week low of $149.04 and a 52-week high of $266.94. The firm has a market cap of $15.41 billion, a price-to-earnings ratio of 88.73 and a beta of 1.44. The business’s fifty day moving average is $246.09 and its 200-day moving average is $222.34.
Manhattan Associates (NASDAQ:MANH – Get Free Report) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The firm had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. As a group, research analysts forecast that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal 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.
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