International Assets Investment Management LLC Acquires New Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

International Assets Investment Management LLC purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, Holdings Channel reports. The firm purchased 23,685 shares of the software maker’s stock, valued at approximately $5,100,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MANH. Morgan Stanley increased its stake in Manhattan Associates by 302.2% in the 4th quarter. Morgan Stanley now owns 1,361,946 shares of the software maker’s stock valued at $165,340,000 after buying an additional 1,023,285 shares during the last quarter. BlackRock Inc. increased its stake in Manhattan Associates by 13.5% in the 1st quarter. BlackRock Inc. now owns 7,461,771 shares of the software maker’s stock valued at $1,155,455,000 after buying an additional 888,755 shares during the last quarter. Norges Bank acquired a new stake in Manhattan Associates in the 4th quarter valued at $81,289,000. California Public Employees Retirement System increased its stake in Manhattan Associates by 184.3% in the 3rd quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock valued at $69,708,000 after buying an additional 228,618 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Manhattan Associates by 37.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 819,305 shares of the software maker’s stock valued at $93,892,000 after buying an additional 225,136 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were 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 in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $2,699,513.81. Following the sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Manhattan Associates Stock Down 3.1 %

NASDAQ MANH opened at $230.49 on Tuesday. The company has a market capitalization of $14.19 billion, a P/E ratio of 81.73 and a beta of 1.44. Manhattan Associates, Inc. has a 12-month low of $152.32 and a 12-month high of $266.94. The firm has a 50-day moving average price of $248.11 and a two-hundred day moving average price of $225.81.

Manhattan Associates (NASDAQ:MANH) last posted 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. The firm had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. Equities analysts expect that Manhattan Associates, Inc. will post 2.78 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Citigroup assumed coverage on shares of Manhattan Associates in a research note on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price target on the stock. Truist Financial boosted their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Raymond James boosted their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities restated a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $231.29.

About Manhattan Associates

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.