Daiwa Securities Group Inc. Raises Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Daiwa Securities Group Inc. boosted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 27.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,083 shares of the software maker’s stock after buying an additional 1,083 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Manhattan Associates were worth $1,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Insight Partners LLC grew its position in Manhattan Associates by 0.4% during the third quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock valued at $2,997,000 after buying an additional 57 shares during the period. Signaturefd LLC grew its position 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 valued at $252,000 after purchasing an additional 57 shares during the period. UMB Bank n.a. grew its position in shares of Manhattan Associates by 25.9% in the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock valued at $61,000 after purchasing an additional 58 shares during the period. DAVENPORT & Co LLC grew its position 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 valued at $1,032,000 after purchasing an additional 60 shares during the period. Finally, Raleigh Capital Management Inc. grew its position 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 valued at $78,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MANH. Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday. Raymond James lifted their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, Citigroup dropped their target price on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $225.57.

Insiders Place Their Bets

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated 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 transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction dated 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 transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Manhattan Associates Trading Down 10.5 %

MANH opened at $206.32 on Thursday. The firm has a market capitalization of $12.70 billion, a PE ratio of 73.16 and a beta of 1.44. Manhattan Associates, Inc. has a twelve month low of $152.32 and a twelve month high of $266.94. The firm’s 50-day moving average price is $245.97 and its 200 day moving average price is $227.06.

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

Manhattan Associates 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.