Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Summit Global Investments

Summit Global Investments boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.6% during the 4th quarter, Holdings Channel reports. The fund owned 17,488 shares of the software maker’s stock after acquiring an additional 270 shares during the quarter. Summit Global Investments’ holdings in Manhattan Associates were worth $3,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Manhattan Associates by 59.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after acquiring an additional 8,094 shares in the last quarter. Highland Capital Management LLC acquired a new position in Manhattan Associates in the 4th quarter valued at approximately $1,142,000. Redhawk Wealth Advisors Inc. purchased a new stake in Manhattan Associates in the 4th quarter worth approximately $1,050,000. Meeder Asset Management Inc. acquired a new stake in shares of Manhattan Associates during the 4th quarter valued at $2,039,000. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Manhattan Associates during the 4th quarter valued at $3,725,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Up 0.7 %

MANH traded up $1.53 during midday trading on Thursday, reaching $209.30. 187,951 shares of the company’s stock were exchanged, compared to its average volume of 390,932. Manhattan Associates, Inc. has a one year low of $166.82 and a one year high of $266.94. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 68.40 and a beta of 1.45. The business has a 50-day simple moving average of $241.55 and a two-hundred day simple moving average of $226.98.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The company had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. As a group, research analysts anticipate that Manhattan Associates, Inc. will post 2.72 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on MANH shares. Truist Financial lifted their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Rosenblatt Securities reissued a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a research report on Wednesday, April 24th. Finally, DA Davidson raised shares of Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $220.00 to $240.00 in a research report on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $234.86.

Insider Activity at Manhattan Associates

In other news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.