Focus Partners Advisor Solutions LLC Buys Shares of 4,706 Manhattan Associates, Inc. $MANH

Focus Partners Advisor Solutions LLC bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 4,706 shares of the software maker’s stock, valued at approximately $655,000.

Several other hedge funds have also recently modified their holdings of MANH. Norges Bank bought a new position in shares of Manhattan Associates during the fourth quarter valued at $124,264,000. T. Rowe Price Investment Management Inc. increased its holdings in Manhattan Associates by 35.2% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock worth $447,182,000 after buying an additional 671,589 shares in the last quarter. Amundi raised its position in Manhattan Associates by 479.4% in the 1st quarter. Amundi now owns 454,095 shares of the software maker’s stock worth $60,449,000 after buying an additional 375,719 shares during the last quarter. Lazard Asset Management LLC raised its position in Manhattan Associates by 76.4% in the 3rd quarter. Lazard Asset Management LLC now owns 707,742 shares of the software maker’s stock worth $145,073,000 after buying an additional 306,516 shares during the last quarter. Finally, Swedbank AB lifted its stake in Manhattan Associates by 25.0% during the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock valued at $199,680,000 after acquiring an additional 300,000 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,139 shares of company stock valued at $1,744,879 over the last 90 days. 0.84% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MANH. Robert W. Baird raised their price target on shares of Manhattan Associates from $186.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Stifel Nicolaus boosted their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a research report on Wednesday, July 29th. DA Davidson raised their target price on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Citigroup lifted their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $209.20.

Manhattan Associates Stock Down 0.5%

Manhattan Associates stock opened at $196.47 on Tuesday. The business has a 50-day simple moving average of $160.67 and a two-hundred day simple moving average of $146.96. The company has a market cap of $11.46 billion, a P/E ratio of 56.30 and a beta of 0.93. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $220.59.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. During the same quarter in the prior year, the firm earned $1.31 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Research analysts anticipate that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Manhattan Associates Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.