Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by iA Global Asset Management Inc.

iA Global Asset Management Inc. lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 29.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 937 shares of the software maker’s stock after purchasing an additional 211 shares during the period. iA Global Asset Management Inc.’s holdings in Manhattan Associates were worth $231,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tobam acquired a new position in Manhattan Associates in the first quarter valued at approximately $25,000. Innealta Capital LLC acquired a new position in Manhattan Associates in the second quarter valued at approximately $26,000. Benjamin Edwards Inc. acquired a new position in Manhattan Associates in the first quarter valued at approximately $27,000. Contravisory Investment Management Inc. acquired a new position in Manhattan Associates in the first quarter valued at approximately $31,000. Finally, DT Investment Partners LLC acquired a new position in Manhattan Associates in the second quarter valued at approximately $31,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MANH has been the topic of a number of recent analyst reports. Redburn Atlantic initiated coverage on Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective on the stock. Citigroup upped 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. DA Davidson upped their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Loop Capital upped their price target on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $257.43.

Manhattan Associates Trading Up 0.4 %

Manhattan Associates stock opened at $264.43 on Friday. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $266.94. The stock’s fifty day simple moving average is $247.24 and its 200-day simple moving average is $238.93. The firm has a market capitalization of $16.28 billion, a P/E ratio of 86.42 and a beta of 1.50.

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

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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.