NewEdge Wealth LLC Invests $1.21 Million in Manhattan Associates, Inc. $MANH

NewEdge Wealth LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,706 shares of the software maker’s stock, valued at approximately $1,212,000.

Several other institutional investors also recently bought and sold shares of MANH. Geode Capital Management LLC raised its stake in shares of Manhattan Associates by 5.3% in the 4th quarter. Geode Capital Management LLC now owns 1,753,909 shares of the software maker’s stock valued at $305,199,000 after acquiring an additional 88,005 shares in the last quarter. MUFG Securities EMEA plc acquired a new position in Manhattan Associates during the 4th quarter valued at $6,066,000. John G Ullman & Associates Inc. acquired a new position in shares of Manhattan Associates during the fourth quarter valued at about $2,106,000. VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Manhattan Associates by 30.6% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 187,555 shares of the software maker’s stock worth $32,505,000 after acquiring an additional 43,955 shares during the period. Finally, Epoch Investment Partners Inc. lifted its position in Manhattan Associates by 70.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 522,382 shares of the software maker’s stock worth $90,534,000 after purchasing an additional 215,574 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Stock Up 1.6%

Shares of MANH stock opened at $214.56 on Friday. The firm has a fifty day moving average of $165.78 and a 200-day moving average of $148.46. The company has a market capitalization of $12.51 billion, a price-to-earnings ratio of 61.48 and a beta of 0.93. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $220.31.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $289.03 million. During the same quarter last year, the business posted $1.31 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on MANH. Weiss Ratings upgraded shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Barclays decreased their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. DA Davidson increased their price objective on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $180.00 price target on shares of Manhattan Associates in a research report on Wednesday, July 29th. Finally, Citigroup lifted their price objective on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus price target of $209.20.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eric Andrew Clark sold 3,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Stewart Gantt sold 5,139 shares of the business’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is owned by insiders.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.