Calamos Advisors LLC Acquires New Holdings in Manhattan Associates, Inc. $MANH

Key Points

• Calamos Advisors opened a new position in Manhattan Associates, buying 16,541 shares valued at approximately $3.29 million in the third quarter. Institutional investors collectively own 98.45% of the company’s shares.
• Manhattan Associates beat quarterly estimates, reporting earnings of $1.55 per share versus a $1.46 consensus and revenue of $306.2 million versus expectations of $297.0 million. Revenue increased 11% year over year.
• Analyst sentiment is broadly positive: eight analysts rate the stock Buy and two rate it Hold, for a “Moderate Buy” consensus and an average price target of $261.11.

Calamos Advisors LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 16,541 shares of the software maker's stock, valued at approximately $3,287,000.

A number of other hedge funds also recently bought and sold shares of the stock. Kestra Advisory Services LLC increased its holdings in shares of Manhattan Associates by 344.8% in the 3rd quarter. Kestra Advisory Services LLC now owns 8,456 shares of the software maker's stock valued at $1,680,000 after acquiring an additional 6,555 shares during the period. Genesis Private Wealth LLC bought a new position in shares of Manhattan Associates in the 3rd quarter worth $228,000. QTR Family Wealth LLC purchased a new stake in shares of Manhattan Associates during the 3rd quarter worth $232,000. Capstone Wealth Management LLC purchased a new stake in shares of Manhattan Associates during the 3rd quarter worth $278,000. Finally, Boston Trust Walden Corp bought a new stake in Manhattan Associates during the third quarter valued at about $87,119,000. Hedge funds and other institutional investors own 98.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MANH. Robert W. Baird lifted their target price on Manhattan Associates from $218.00 to $260.00 and gave the company an "outperform" rating in a research note on Wednesday, August 26th. Wall Street Zen downgraded shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Sunday, November 1st. Citigroup increased their price target on shares of Manhattan Associates from $260.00 to $280.00 and gave the company a "buy" rating in a research report on Wednesday, October 28th. DA Davidson raised their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a "neutral" rating in a report on Wednesday, October 28th. Finally, Weiss Ratings raised shares of Manhattan Associates from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, October 2nd. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $261.11.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $252.78 on Monday. The business's fifty day simple moving average is $220.51 and its 200-day simple moving average is $168.75. The company has a market cap of $14.68 billion, a PE ratio of 70.81 and a beta of 0.85. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $263.47.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The firm had revenue of $306.19 million during the quarter, compared to analysts' expectations of $297.01 million. During the same quarter last year, the firm earned $1.36 EPS. The business's quarterly revenue was up 11.0% on a year-over-year basis. On average, equities analysts forecast that Manhattan Associates, Inc. will post 3.88 earnings per share for the current year.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the firm'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 sale, the chief executive officer owned 89,638 shares of the company's stock, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda Hollembaek sold 1,315 shares of the firm's stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $250.00, for a total value of $328,750.00. Following the completion of the sale, the director directly owned 10,953 shares of the company's stock, valued at approximately $2,738,250. This represents a 10.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.84% of the company's stock.

Manhattan Associates Profile

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