Raymond James Financial Services Advisors Inc. Acquires 1,931 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Raymond James Financial Services Advisors Inc. raised its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 124.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,479 shares of the software maker’s stock after acquiring an additional 1,931 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Manhattan Associates were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Capital Insight Partners LLC boosted its stake in Manhattan Associates by 0.4% in the third quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock valued at $2,997,000 after acquiring an additional 57 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Manhattan Associates by 4.7% in the third quarter. Signaturefd LLC now owns 1,274 shares of the software maker’s stock worth $252,000 after buying an additional 57 shares during the last quarter. DAVENPORT & Co LLC raised its holdings in shares of Manhattan Associates by 1.2% in the third quarter. DAVENPORT & Co LLC now owns 5,220 shares of the software maker’s stock worth $1,032,000 after buying an additional 60 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in shares of Manhattan Associates by 19.3% in the third quarter. Raleigh Capital Management Inc. now owns 395 shares of the software maker’s stock worth $78,000 after buying an additional 64 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in shares of Manhattan Associates by 14.9% in the second quarter. Sunbelt Securities Inc. now owns 494 shares of the software maker’s stock worth $99,000 after buying an additional 64 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction 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 $14,207,022.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction 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 $14,207,022.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction 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 disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James raised their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Truist Financial raised their price target on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a report on Monday. Finally, Citigroup initiated coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price target for the company. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $231.29.

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $231.16 on Wednesday. The firm has a fifty day moving average price of $247.78 and a 200 day moving average price of $226.05. Manhattan Associates, Inc. has a 1 year low of $152.32 and a 1 year high of $266.94. The stock has a market cap of $14.23 billion, a PE ratio of 81.97 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. As a group, equities analysts expect that Manhattan Associates, Inc. will post 2.78 EPS for the current year.

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.