HM Payson & Co. Buys 266 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

HM Payson & Co. increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 51.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 786 shares of the software maker’s stock after acquiring an additional 266 shares during the quarter. HM Payson & Co.’s holdings in Manhattan Associates were worth $197,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MANH. Blue Trust Inc. boosted its stake in shares of Manhattan Associates by 259.4% in the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares in the last quarter. Tobam bought a new stake in shares of Manhattan Associates in the 1st quarter valued at about $25,000. Bear Mountain Capital Inc. bought a new stake in Manhattan Associates during the 4th quarter worth approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Manhattan Associates during the 4th quarter worth approximately $26,000. Finally, Benjamin Edwards Inc. bought a new stake in Manhattan Associates during the 1st quarter worth approximately $27,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

MANH stock traded down $1.82 during midday trading on Monday, hitting $242.11. The stock had a trading volume of 255,219 shares, compared to its average volume of 426,381. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 78.47 and a beta of 1.50. The business has a 50-day moving average of $235.91 and a two-hundred day moving average of $236.27. Manhattan Associates, Inc. has a 52-week low of $182.97 and a 52-week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same period in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. Research analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citigroup upped their price target on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Redburn Atlantic initiated coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price objective on the stock. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, DA Davidson boosted their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $257.43.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates 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.