The Manufacturers Life Insurance Company Invests $5.60 Million in Manhattan Associates, Inc. $MANH

The Manufacturers Life Insurance Company acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,187 shares of the software maker’s stock, valued at approximately $5,596,000. The Manufacturers Life Insurance Company owned 0.07% of Manhattan Associates at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Sone Capital Management LLC bought a new position in Manhattan Associates in the second quarter worth $14,871,000. L2 Asset Management LLC acquired a new stake in Manhattan Associates during the second quarter worth $1,379,000. Sanctuary Advisors LLC acquired a new stake in Manhattan Associates during the second quarter worth $541,000. Bank of Nova Scotia bought a new stake in Manhattan Associates in the 2nd quarter valued at $1,446,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in shares of Manhattan Associates in the 2nd quarter valued at $62,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 5,139 shares of the 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 sale, the executive vice president owned 55,676 shares in the company, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,139 shares of company stock worth $1,744,879 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

MANH has been the subject of a number of analyst reports. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Wall Street Zen downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Robert W. Baird upped their price objective on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. DA Davidson increased their target price on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Finally, Stifel Nicolaus boosted their price target on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus price target of $213.40.

Manhattan Associates Trading Down 0.0%

NASDAQ:MANH opened at $223.19 on Tuesday. The stock has a market capitalization of $13.01 billion, a P/E ratio of 63.95 and a beta of 0.93. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $227.03. The firm has a 50 day moving average of $175.85 and a 200-day moving average of $151.67.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same period in the prior year, the company earned $1.31 EPS. Manhattan Associates’s revenue for the quarter was up 9.3% on a year-over-year basis. As a group, analysts forecast that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Manhattan Associates Company Profile

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.