Thurston Springer Miller Herd & Titak Inc. Takes $37,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Thurston Springer Miller Herd & Titak Inc. purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 149 shares of the software maker’s stock, valued at approximately $37,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Manhattan Associates by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after acquiring an additional 58,905 shares in the last quarter. Franklin Resources Inc. grew its holdings in Manhattan Associates by 16.8% during the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after acquiring an additional 125,541 shares in the last quarter. Norges Bank bought a new position in Manhattan Associates during the 4th quarter worth about $146,984,000. TD Asset Management Inc grew its holdings in Manhattan Associates by 10.5% during the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock worth $151,931,000 after acquiring an additional 57,859 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Manhattan Associates by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock worth $140,604,000 after acquiring an additional 1,757 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now directly 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 Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Stock Up 0.9 %

Shares of Manhattan Associates stock traded up $2.23 during midday 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. The company has a fifty day simple moving average of $236.12 and a 200 day simple moving average of $236.42. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analyst estimates of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm posted $0.63 EPS. As a group, analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. William Blair restated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. DA Davidson raised their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup raised their price target on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a report on Wednesday, April 24th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $257.43.

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.