HB Wealth Management LLC Increases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Key Points

• HB Wealth Management LLC significantly increased its stake in Manhattan Associates, buying an additional 11,266 shares to raise its ownership by 967.9% during the first quarter, making its total holdings worth approximately $2.15 million.
• Analysts have raised their price targets for Manhattan Associates, with Raymond James and DA Davidson increasing theirs to $250, while the stock currently holds a consensus rating of "Hold" with a target price of $216.67.
• Manhattan Associates reported a EPS of $1.31 for its latest quarter, surpassing expectations and showing a year-over-year revenue increase of 2.7% to $272.42 million.

HB Wealth Management LLC boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 967.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,430 shares of the software maker's stock after purchasing an additional 11,266 shares during the quarter. HB Wealth Management LLC's holdings in Manhattan Associates were worth $2,151,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MANH. Park Square Financial Group LLC acquired a new stake in Manhattan Associates during the fourth quarter worth $38,000. Transce3nd LLC acquired a new stake in Manhattan Associates in the 4th quarter valued at about $41,000. Central Pacific Bank Trust Division boosted its stake in shares of Manhattan Associates by 107.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 199 shares of the software maker's stock valued at $34,000 after buying an additional 103 shares during the period. Reyes Financial Architecture Inc. grew its position in shares of Manhattan Associates by 42.5% during the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock worth $82,000 after buying an additional 142 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its stake in shares of Manhattan Associates by 57.7% during the first quarter. Harbor Investment Advisory LLC now owns 552 shares of the software maker's stock worth $96,000 after buying an additional 202 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 2,300 shares of the business's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $220.33, for a total transaction of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares in the company, valued at approximately $10,721,257.80. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Linda T. Hollembaek sold 2,024 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $221.53, for a total value of $448,376.72. Following the completion of the transaction, the director directly owned 11,907 shares of the company's stock, valued at approximately $2,637,757.71. This trade represents a 14.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,666 shares of company stock worth $9,251,781. 0.88% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial boosted their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Raymond James Financial upped their price target on Manhattan Associates from $195.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, July 23rd. Morgan Stanley assumed coverage on Manhattan Associates in a report on Monday, July 14th. They issued an "underweight" rating and a $190.00 target price for the company. Robert W. Baird lifted their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Redburn Atlantic downgraded Manhattan Associates from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Manhattan Associates presently has a consensus rating of "Hold" and an average target price of $216.67.

Manhattan Associates Price Performance

Shares of MANH stock traded down $5.05 during midday trading on Friday, hitting $214.62. The company had a trading volume of 135,035 shares, compared to its average volume of 827,563. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 59.95 and a beta of 1.08. The company's 50 day simple moving average is $197.95 and its 200 day simple moving average is $192.61. Manhattan Associates, Inc. has a 52-week low of $140.81 and a 52-week high of $312.60.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The software maker reported $1.31 EPS for the quarter, topping the consensus estimate of $1.12 by $0.19. Manhattan Associates had a net margin of 20.91% and a return on equity of 82.91%. The company had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. During the same period in the previous year, the firm earned $1.18 EPS. The business's revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Manhattan Associates, Inc. will post 3.3 EPS for the current year.

Manhattan Associates Company Profile

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.