Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,469 shares of the software maker's stock after purchasing an additional 4,808 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Manhattan Associates worth $8,387,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Park Square Financial Group LLC purchased a new stake in Manhattan Associates during the fourth quarter worth approximately $38,000. Transce3nd LLC purchased a new stake in Manhattan Associates in the fourth quarter valued at approximately $41,000. Central Pacific Bank Trust Division lifted its stake in Manhattan Associates by 107.3% in the first 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 last quarter. Reyes Financial Architecture Inc. lifted its stake in Manhattan Associates by 42.5% in the first quarter. Reyes Financial Architecture Inc. now owns 476 shares of the software maker's stock valued at $82,000 after buying an additional 142 shares during the last quarter. Finally, Bayforest Capital Ltd lifted its stake in Manhattan Associates by 126.6% in the first quarter. Bayforest Capital Ltd now owns 494 shares of the software maker's stock valued at $85,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company's stock.
Manhattan Associates Stock Down 2.3%
MANH stock traded down $4.99 on Thursday, reaching $215.20. 679,099 shares of the company's stock were exchanged, compared to its average volume of 810,493. The stock has a fifty day moving average of $202.57 and a 200-day moving average of $188.57. Manhattan Associates, Inc. has a twelve month low of $140.81 and a twelve month high of $312.60. The firm has a market cap of $13.01 billion, a PE ratio of 60.11 and a beta of 1.10.
Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.19. The firm had revenue of $272.42 million for the quarter, compared to analyst estimates of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. Manhattan Associates's quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.18 earnings per share. On average, equities research analysts predict that Manhattan Associates, Inc. will post 3.3 EPS for the current fiscal year.
Insider Transactions at Manhattan Associates
In related news, EVP James Stewart Gantt sold 2,300 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $220.33, for a total value of $506,759.00. Following the sale, the executive vice president directly owned 48,660 shares of the company's stock, valued at approximately $10,721,257.80. This represents a 4.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Eddie Capel sold 37,342 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $222.18, for a total transaction of $8,296,645.56. Following the completion of the sale, the chairman directly owned 162,988 shares in the company, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,666 shares of company stock valued at $9,251,781 in the last 90 days. 0.88% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
MANH has been the topic of a number of recent research reports. Loop Capital boosted their target price on Manhattan Associates from $170.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Truist Financial boosted their target price on Manhattan Associates from $210.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Robert W. Baird boosted their target price on Manhattan Associates from $212.00 to $230.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Redburn Atlantic lowered Manhattan Associates from a "buy" rating to a "neutral" rating and dropped their target price for the company from $270.00 to $200.00 in a report on Tuesday, June 10th. Finally, Citigroup reissued a "neutral" rating and issued a $200.00 target price (up previously from $177.00) on shares of Manhattan Associates in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $216.67.
Get Our Latest Report on Manhattan Associates
Manhattan Associates Profile
(
Free Report)
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.
Featured Articles
Before you consider Manhattan Associates, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Manhattan Associates wasn't on the list.
While Manhattan Associates currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access