DNB Asset Management AS Boosts Position in Manhattan Associates, Inc. (NASDAQ:MANH)

DNB Asset Management AS grew its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,734 shares of the software maker’s stock after buying an additional 989 shares during the quarter. DNB Asset Management AS’s holdings in Manhattan Associates were worth $2,401,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tobam purchased a new stake in Manhattan Associates in the first quarter worth about $25,000. Benjamin Edwards Inc. purchased a new stake in Manhattan Associates in the first quarter worth about $27,000. Blue Trust Inc. grew its position in shares of Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares in the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $26,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Manhattan Associates during the fourth quarter worth about $26,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH traded up $2.23 during trading on Tuesday, hitting $241.09. The company had a trading volume of 284,590 shares, compared to its average volume of 427,961. The stock has a market cap of $14.84 billion, a price-to-earnings ratio of 80.60 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $266.94. The company has a fifty day simple moving average of $236.12 and a two-hundred day simple moving average of $236.42.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. The business had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. On average, equities research analysts anticipate 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 stock in a transaction that occurred on 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 directly owns 46,287 shares in the company, valued at $11,872,615.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MANH. Redburn Atlantic began coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 target price for the company. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a research report on Wednesday, April 24th. Citigroup increased their target price on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Rosenblatt Securities reissued a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.43.

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.