Nisa Investment Advisors LLC Acquires 9,417 Shares of Manhattan Associates, Inc. $MANH

Key Points

• Nisa Investment Advisors increased its Manhattan Associates stake by 133.3% in the third quarter, purchasing 9,417 additional shares for a total holding valued at approximately $3.3 million. Institutional investors collectively own 98.45% of the company.
• Manhattan Associates exceeded quarterly expectations, reporting $1.39 in adjusted earnings per share versus the $1.32 consensus and revenue of $297.79 million, up 9.3% year over year.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $229.33, although the stock’s valuation is elevated at a P/E ratio of 68.25.

Nisa Investment Advisors LLC grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 133.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,483 shares of the software maker's stock after buying an additional 9,417 shares during the quarter. Nisa Investment Advisors LLC's holdings in Manhattan Associates were worth $3,275,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Bank of America Corp DE bought a new position in Manhattan Associates during the 2nd quarter worth approximately $75,136,000. William Blair Investment Management LLC purchased a new position in Manhattan Associates in the 2nd quarter worth approximately $94,049,000. BlackRock Inc. bought a new stake in Manhattan Associates in the second quarter valued at approximately $944,285,000. Engineers Gate Manager LP lifted its position in Manhattan Associates by 1,309.1% in the second quarter. Engineers Gate Manager LP now owns 132,846 shares of the software maker's stock valued at $18,499,000 after purchasing an additional 123,418 shares during the last quarter. Finally, Man Group plc bought a new stake in Manhattan Associates in the second quarter valued at approximately $7,809,000. 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 Gantt sold 5,139 shares of the business's stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Eric Clark sold 3,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer owned 89,638 shares of the company's stock, valued at $17,726,810.88. This trade 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 Stock Performance

NASDAQ MANH opened at $238.19 on Friday. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $242.63. The stock has a 50 day simple moving average of $213.12 and a two-hundred day simple moving average of $171.81. The stock has a market cap of $13.89 billion, a P/E ratio of 68.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $289.03 million. During the same period last year, the company earned $1.31 EPS. The business's quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MANH. Stifel Nicolaus raised their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, October 14th. Barclays upped their price target on shares of Manhattan Associates from $201.00 to $239.00 and gave the company an "overweight" rating in a report on Tuesday, September 8th. Morgan Stanley upgraded shares of Manhattan Associates from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $180.00 to $250.00 in a report on Monday, October 12th. DA Davidson cut shares of Manhattan Associates from a "buy" rating to a "neutral" rating and set a $210.00 price target for the company. in a research report on Monday, September 28th. Finally, UBS Group reissued a "buy" rating on shares of Manhattan Associates in a report on Wednesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $229.33.

About Manhattan Associates

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company's product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.

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