Charles Schwab Investment Management Inc. Grows Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Charles Schwab Investment Management Inc. grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 11.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 449,632 shares of the software maker’s stock after purchasing an additional 45,743 shares during the period. Charles Schwab Investment Management Inc. owned about 0.74% of Manhattan Associates worth $77,804,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. DAVENPORT & Co LLC bought a new position in shares of Manhattan Associates during the 1st quarter worth $214,000. Allianz Asset Management GmbH grew its position in shares of Manhattan Associates by 18.9% during the 1st quarter. Allianz Asset Management GmbH now owns 143,687 shares of the software maker’s stock worth $24,864,000 after buying an additional 22,845 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Manhattan Associates by 876.3% during the 1st quarter. SG Americas Securities LLC now owns 7,615 shares of the software maker’s stock worth $1,318,000 after buying an additional 6,835 shares in the last quarter. Abacus FCF Advisors LLC grew its position in shares of Manhattan Associates by 170.0% during the 1st quarter. Abacus FCF Advisors LLC now owns 32,865 shares of the software maker’s stock worth $5,687,000 after buying an additional 20,691 shares in the last quarter. Finally, Merit Financial Group LLC grew its position in shares of Manhattan Associates by 165.1% during the 1st quarter. Merit Financial Group LLC now owns 4,279 shares of the software maker’s stock worth $740,000 after buying an additional 2,665 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 2,300 shares of the firm’s stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $220.33, for a total value of $506,759.00. Following the completion of the transaction, the executive vice president directly owned 48,660 shares in the company, valued at $10,721,257.80. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Eddie Capel sold 37,342 shares of the firm’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $222.18, for a total value of $8,296,645.56. Following the completion of the transaction, the chairman owned 162,988 shares of the company’s stock, valued at approximately $36,212,673.84. The trade was a 18.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,666 shares of company stock worth $9,251,781 over the last three months. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on MANH. Robert W. Baird increased their price target on Manhattan Associates from $212.00 to $230.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 16th. Truist Financial raised their price objective on Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. Citigroup reaffirmed a “neutral” rating and set a $200.00 price objective (up previously from $177.00) on shares of Manhattan Associates in a research report on Wednesday, July 16th. Raymond James Financial raised their price objective on Manhattan Associates from $195.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, July 23rd. Finally, Morgan Stanley assumed coverage on Manhattan Associates in a research report on Monday, July 14th. They set an “underweight” rating and a $190.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of “Hold” and an average price target of $216.67.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $220.19 on Thursday. The company has a market cap of $13.31 billion, a PE ratio of 61.51 and a beta of 1.10. The business has a 50-day simple moving average of $202.57 and a two-hundred day simple moving average of $188.57. Manhattan Associates, Inc. has a fifty-two week low of $140.81 and a fifty-two week high of $312.60.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, July 22nd. The software maker reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.19. The business had revenue of $272.42 million during the quarter, compared to the consensus estimate of $263.62 million. Manhattan Associates had a return on equity of 82.91% and a net margin of 20.91%. The company’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter last year, the company earned $1.18 earnings per share. On average, sell-side analysts predict that Manhattan Associates, Inc. will post 3.3 earnings per share for the current fiscal year.

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.