Allspring Global Investments Holdings LLC Acquires 52,524 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Allspring Global Investments Holdings LLC raised its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 195.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,361 shares of the software maker’s stock after purchasing an additional 52,524 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.13% of Manhattan Associates worth $19,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Tobam bought a new position in shares of Manhattan Associates during the 1st quarter worth $25,000. Benjamin Edwards Inc. bought a new position in shares of Manhattan Associates during the 1st quarter worth $27,000. Contravisory Investment Management Inc. bought a new position in shares of Manhattan Associates during the 1st quarter worth $31,000. DT Investment Partners LLC bought a new position in shares of Manhattan Associates during the 2nd quarter worth $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Manhattan Associates during the 2nd quarter worth $37,000. Institutional investors own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup increased their price target on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. Redburn Atlantic began coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price for the company. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital raised their target price on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Finally, DA Davidson raised their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.43.

Manhattan Associates Stock Down 1.0 %

NASDAQ:MANH opened at $259.00 on Thursday. The business’s 50-day moving average price is $246.15 and its two-hundred day moving average price is $238.67. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $266.94. The stock has a market cap of $15.95 billion, a P/E ratio of 84.64 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating 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 firm had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter last year, the firm posted $0.63 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the firm’s 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 sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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.