Meeder Asset Management Inc. Buys New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Meeder Asset Management Inc. bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 9,468 shares of the software maker's stock, valued at approximately $2,039,000.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. lifted its stake in Manhattan Associates by 13.5% in the 1st quarter. BlackRock Inc. now owns 7,461,771 shares of the software maker's stock worth $1,155,455,000 after purchasing an additional 888,755 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Manhattan Associates by 3.6% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,738,298 shares of the software maker's stock worth $424,025,000 after buying an additional 95,122 shares during the last quarter. State Street Corp increased its holdings in shares of Manhattan Associates by 2.1% during the 1st quarter. State Street Corp now owns 1,739,702 shares of the software maker's stock worth $269,393,000 after buying an additional 35,505 shares during the last quarter. FMR LLC increased its holdings in shares of Manhattan Associates by 2.1% during the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker's stock worth $321,958,000 after buying an additional 33,549 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Manhattan Associates by 0.9% during the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker's stock worth $300,927,000 after buying an additional 13,303 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Down 0.6 %

MANH stock traded down $1.42 during midday trading on Monday, hitting $242.09. The company's stock had a trading volume of 326,083 shares, compared to its average volume of 369,221. Manhattan Associates, Inc. has a 52-week low of $152.00 and a 52-week high of $266.94. The firm has a market capitalization of $14.91 billion, a P/E ratio of 85.85 and a beta of 1.44. The firm has a 50-day simple moving average of $248.64 and a 200-day simple moving average of $224.31.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. The business had revenue of $238.26 million during the quarter, compared to analysts' expectations of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. On average, sell-side analysts expect that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Citigroup assumed coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They set a "neutral" rating and a $260.00 price target for the company. StockNews.com upgraded shares of Manhattan Associates from a "hold" rating to a "buy" rating in a report on Friday, December 15th. Raymond James lifted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an "outperform" rating in a report on Wednesday, January 31st. Rosenblatt Securities lifted their target price on shares of Manhattan Associates from $215.00 to $225.00 and gave the company a "neutral" rating in a report on Wednesday, January 31st. Finally, Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $231.29.

Insider Transactions at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the business's stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares of the company's stock, valued at $59,988,562.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company's stock.

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.