Callan Family Office LLC purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 20,960 shares of the software maker's stock, valued at approximately $2,919,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC grew its stake in Manhattan Associates by 3.3% during the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker's stock worth $366,000 after buying an additional 59 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Manhattan Associates by 2.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker's stock valued at $555,000 after acquiring an additional 69 shares during the period. Covestor Ltd raised its stake in shares of Manhattan Associates by 12.2% in the 4th quarter. Covestor Ltd now owns 670 shares of the software maker's stock valued at $116,000 after acquiring an additional 73 shares during the period. Verdence Capital Advisors LLC lifted its holdings in shares of Manhattan Associates by 3.4% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker's stock valued at $402,000 after acquiring an additional 76 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of Manhattan Associates by 1.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker's stock valued at $1,104,000 after acquiring an additional 80 shares in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Manhattan Associates
In related news, EVP James Stewart Gantt sold 5,139 shares of the business's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer owned 89,638 shares in the company, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Barclays decreased their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an "overweight" rating for the company in a research report on Friday, May 29th. Stifel Nicolaus boosted their price objective on Manhattan Associates from $200.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, July 29th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. Wall Street Zen lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Robert W. Baird increased their target price on Manhattan Associates from $186.00 to $218.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $209.20.
Get Our Latest Report on MANH
Manhattan Associates Trading Up 1.6%
Shares of MANH stock opened at $214.56 on Friday. The company has a market capitalization of $12.51 billion, a PE ratio of 61.48 and a beta of 0.93. The firm has a fifty day simple moving average of $165.78 and a 200-day simple moving average of $148.46. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $220.31.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. During the same period last year, the business earned $1.31 EPS. The business's revenue was up 9.3% on a year-over-year basis. Equities research analysts predict that Manhattan Associates, Inc. will post 3.87 EPS for the current year.
Manhattan Associates Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding MANH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manhattan Associates, Inc. (NASDAQ:MANH - Free Report).
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