675,396 Shares in Manhattan Associates, Inc. $MANH Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 675,396 shares of the software maker’s stock, valued at approximately $94,049,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Manhattan Associates by 3.3% during the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock worth $366,000 after purchasing an additional 59 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Manhattan Associates by 2.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock worth $555,000 after buying an additional 69 shares during the period. Covestor Ltd grew its stake in shares of Manhattan Associates by 12.2% in the fourth quarter. Covestor Ltd now owns 670 shares of the software maker’s stock valued at $116,000 after buying an additional 73 shares in the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Manhattan Associates by 3.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker’s stock valued at $402,000 after buying an additional 76 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Manhattan Associates by 1.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock valued at $1,104,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the sale, the executive vice president owned 55,676 shares of the company’s stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eric Andrew Clark sold 3,000 shares of Manhattan Associates stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of 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 SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 9,139 shares of company stock worth $1,744,879. 0.84% of the stock is owned by company insiders.

Manhattan Associates Trading Up 1.6%

Manhattan Associates stock opened at $214.56 on Friday. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $220.31. The stock’s fifty day simple moving average is $165.78 and its 200-day simple moving average is $148.46. The firm has a market capitalization of $12.51 billion, a P/E ratio of 61.48 and a beta of 0.93.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data 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. The business had revenue of $297.79 million for the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the firm earned $1.31 earnings per share. Sell-side analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MANH shares. Robert W. Baird increased their target price on Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. Barclays cut their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Citigroup increased their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.20.

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.