iA Global Asset Management Inc. Buys 223 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

iA Global Asset Management Inc. grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 23.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,160 shares of the software maker’s stock after acquiring an additional 223 shares during the period. iA Global Asset Management Inc.’s holdings in Manhattan Associates were worth $326,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Manhattan Associates during the second quarter valued at $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates during the 2nd quarter worth $27,000. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates in the 3rd quarter worth about $34,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates in the 2nd quarter valued at about $31,000. Finally, DT Investment Partners LLC purchased a new stake in Manhattan Associates during the second quarter valued at about $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MANH. Piper Sandler initiated coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price for the company. Truist Financial boosted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird boosted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Raymond James raised their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Insider Buying and Selling

In other news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $297.67 on Wednesday. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The stock has a market cap of $18.18 billion, a P/E ratio of 84.57 and a beta of 1.51. The firm’s fifty day moving average price is $284.82 and its 200-day moving average price is $260.90.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts predict that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

About Manhattan Associates

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.