Manhattan Associates, Inc. $MANH Shares Acquired by Corient Private Wealth LP

Corient Private Wealth LP boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 164.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,944 shares of the software maker's stock after acquiring an additional 8,674 shares during the quarter. Corient Private Wealth LP's holdings in Manhattan Associates were worth $1,942,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Manhattan Associates during the 2nd quarter worth $944,285,000. T. Rowe Price Investment Management Inc. raised its position in shares of Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker's stock worth $447,182,000 after buying an additional 671,589 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Manhattan Associates by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker's stock worth $305,199,000 after buying an additional 88,005 shares in the last quarter. Swedbank AB lifted its stake in shares of Manhattan Associates by 25.0% in the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker's stock worth $199,680,000 after acquiring an additional 300,000 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of Manhattan Associates by 37.2% in the 4th quarter. TD Asset Management Inc now owns 730,815 shares of the software maker's stock worth $126,658,000 after acquiring an additional 198,228 shares during the period. Institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

MANH has been the topic of a number of research analyst reports. DA Davidson raised their price objective 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. Wall Street Zen cut Manhattan Associates from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. Barclays boosted their price objective on Manhattan Associates from $201.00 to $239.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 8th. Citigroup upped their price objective 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 target price on Manhattan Associates in a report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average price target of $217.20.

Manhattan Associates Stock Performance

Shares of MANH opened at $210.37 on Thursday. The company has a market capitalization of $12.27 billion, a PE ratio of 60.28 and a beta of 0.95. The company's 50 day moving average price is $197.48 and its 200 day moving average price is $160.12. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $227.03.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The firm had revenue of $297.79 million during the quarter, compared to analysts' expectations of $289.03 million. During the same quarter last year, the firm earned $1.31 earnings per share. The business's revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, EVP James Gantt sold 5,139 shares of the firm's stock in a transaction 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 transaction, the executive vice president directly owned 55,676 shares in the company, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Eric Clark sold 3,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were 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 directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company's stock.

Manhattan Associates Company Profile

Manhattan Associates, Inc is a technology company that develops cloud-based software for supply chain, inventory, and omnichannel commerce operations. Its solutions help businesses manage the movement of goods from suppliers and distribution centers to stores and customers, while improving visibility, efficiency, and service.

The company's product portfolio includes Manhattan Active Warehouse Management, Manhattan Active Transportation Management, Manhattan Active Order Management, supply chain planning, inventory optimization, labor management, and customer engagement applications.

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