Wilmington Savings Fund Society FSB Takes $502,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Wilmington Savings Fund Society FSB purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANHFree Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,784 shares of the software maker’s stock, valued at approximately $502,000.

Several other hedge funds and other institutional investors have also bought and sold shares of MANH. Fidelis Capital Partners LLC increased its position in shares of Manhattan Associates by 3.2% during the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after purchasing an additional 40 shares during the last quarter. Ascent Group LLC grew its position in Manhattan Associates by 4.8% during the third quarter. Ascent Group LLC now owns 896 shares of the software maker’s stock valued at $252,000 after buying an additional 41 shares during the period. UMB Bank n.a. grew its position in Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after buying an additional 43 shares during the period. SkyView Investment Advisors LLC increased its holdings in Manhattan Associates by 0.9% during the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after buying an additional 46 shares during the last quarter. Finally, Huntington National Bank raised its position in Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

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

Manhattan Associates Stock Up 0.9 %

Shares of NASDAQ MANH opened at $300.88 on Tuesday. The company has a market cap of $18.38 billion, a P/E ratio of 85.48 and a beta of 1.50. Manhattan Associates, Inc. has a 52 week low of $199.23 and a 52 week high of $312.60. The business has a 50-day simple moving average of $286.65 and a two-hundred day simple moving average of $263.13.

Manhattan Associates (NASDAQ:MANHGet Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. Manhattan Associates’s revenue was up 11.9% compared to the same quarter last year. During the same period last year, the business earned $0.79 earnings per share. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Wall Street Analyst Weigh In

MANH has been the subject of a number of research reports. Truist Financial increased their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Citigroup raised their target price on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday. Piper Sandler began coverage on Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price target on the stock. Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Raymond James upped their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $292.89.

Get Our Latest Analysis 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.

Further Reading

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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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