7,986 Shares in Manhattan Associates, Inc. $MANH Bought by Oppenheimer Asset Management Inc.

Key Points

• Oppenheimer Asset Management initiated a position in Manhattan Associates by purchasing 7,986 shares valued at approximately $1.1 million. Institutional investors collectively own 98.45% of the company.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $209.20; several firms recently raised their targets.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in EPS and $297.79 million in revenue, with revenue up 9.3% year over year. Meanwhile, company insiders sold 9,139 shares worth approximately $1.74 million over the past 90 days.

Oppenheimer Asset Management Inc. bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,986 shares of the software maker's stock, valued at approximately $1,112,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in Manhattan Associates by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker's stock valued at $305,199,000 after buying an additional 88,005 shares during the last quarter. MUFG Securities EMEA plc bought a new stake in Manhattan Associates in the 4th quarter worth approximately $6,066,000. John G Ullman & Associates Inc. bought a new stake in Manhattan Associates in the 4th quarter worth approximately $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Manhattan Associates by 30.6% during the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker's stock worth $32,505,000 after acquiring an additional 43,955 shares in the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Manhattan Associates by 70.3% during the 4th quarter. Epoch Investment Partners Inc. now owns 522,382 shares of the software maker's stock worth $90,534,000 after acquiring an additional 215,574 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised their target price 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. Citigroup boosted their price target 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. DA Davidson upped their price target on shares of Manhattan Associates from $200.00 to $210.00 and gave the company a "buy" rating in a research note 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. Finally, Wall Street Zen cut shares of Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Eight investment 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.com, Manhattan Associates currently has an average rating of "Moderate Buy" and a consensus price target of $209.20.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 5,139 shares of the company's stock in a transaction dated 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 transaction, the executive vice president directly owned 55,676 shares in the company, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Eric Andrew Clark sold 3,000 shares of the stock in a transaction dated 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 sale, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is owned by corporate insiders.

Manhattan Associates Price Performance

NASDAQ MANH opened at $197.39 on Monday. The company has a fifty day moving average of $159.68 and a two-hundred day moving average of $146.77. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 56.56 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 - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $289.03 million. During the same quarter in the previous year, the business posted $1.31 earnings per share. The business's revenue was up 9.3% compared to the same quarter last year. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.87 EPS for the current 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.

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