Sanctuary Advisors LLC Acquires 743 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Sanctuary Advisors LLC lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 13.1% during the third quarter, HoldingsChannel reports. The firm owned 6,398 shares of the software maker’s stock after purchasing an additional 743 shares during the quarter. Sanctuary Advisors LLC’s holdings in Manhattan Associates were worth $1,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in MANH. Innealta Capital LLC purchased a new stake in Manhattan Associates during the second quarter worth about $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Manhattan Associates during the 2nd quarter worth approximately $31,000. Capital Performance Advisors LLP bought a new stake in shares of Manhattan Associates in the 3rd quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Manhattan Associates in the 3rd quarter worth approximately $42,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MANH shares. 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 report on Wednesday, October 23rd. Citigroup lifted their price objective on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a report on Monday. Robert W. Baird upped their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. DA Davidson increased their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Loop Capital boosted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average target price of $292.89.

Manhattan Associates Trading Up 0.3 %

Manhattan Associates stock opened at $282.54 on Friday. The firm has a market capitalization of $17.26 billion, a PE ratio of 80.27 and a beta of 1.50. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $312.60. The firm’s 50 day simple moving average is $286.39 and its 200 day simple moving average is $263.92.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $262.90 million. During the same period in the previous year, the business earned $0.79 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. Research analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

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.