Man Group plc Takes $7.81 Million Position in Manhattan Associates, Inc. $MANH

Man Group plc purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 56,081 shares of the software maker's stock, valued at approximately $7,809,000. Man Group plc owned approximately 0.10% of Manhattan Associates as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Manhattan Associates by 3.3% in the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker's stock valued at $366,000 after acquiring an additional 59 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Manhattan Associates by 2.6% in the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker's stock worth $555,000 after acquiring an additional 69 shares in the last quarter. Covestor Ltd increased its stake in shares of Manhattan Associates by 12.2% during the 4th quarter. Covestor Ltd now owns 670 shares of the software maker's stock worth $116,000 after purchasing an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake 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 worth $1,104,000 after purchasing an additional 80 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its stake in shares of Manhattan Associates by 35.9% during the 1st quarter. V Square Quantitative Management LLC now owns 348 shares of the software maker's stock worth $46,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Transactions at Manhattan Associates

In related news, 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 sale, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the sale, the executive vice president owned 55,676 shares of the company's stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,139 shares of company stock valued at $1,744,879 over the last 90 days. Corporate insiders own 0.84% of the company's stock.

Manhattan Associates Stock Down 0.2%

NASDAQ:MANH opened at $223.28 on Friday. The company's 50 day moving average is $173.96 and its 200-day moving average is $151.13. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $227.03. The firm has a market cap of $13.02 billion, a price-to-earnings ratio of 63.98 and a beta of 0.93.

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 (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.07. The business had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. Manhattan Associates's quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.31 EPS. Research analysts predict that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on MANH shares. Weiss Ratings upgraded shares of Manhattan Associates from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, July 14th. DA Davidson upped their price objective 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. Robert W. Baird increased their target price on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an "outperform" rating in a research report on Wednesday. Citigroup raised their target price on Manhattan Associates from $177.00 to $193.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Finally, Morgan Stanley set a $180.00 price target on Manhattan Associates in a research report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has a consensus rating of "Moderate Buy" and a consensus target price of $213.40.

Manhattan Associates Company 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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