Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. lifted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 96.2% during the third quarter, HoldingsChannel.com reports. The firm owned 67,894 shares of the software maker’s stock after purchasing an additional 33,282 shares during the period. Manhattan Associates accounts for about 2.6% of Dock Street Asset Management Inc.’s portfolio, making the stock its 16th largest position. Dock Street Asset Management Inc.’s holdings in Manhattan Associates were worth $19,104,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tobam acquired a new stake in Manhattan Associates in the 1st quarter valued at about $25,000. Innealta Capital LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at about $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at about $27,000. DT Investment Partners LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at about $31,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at about $31,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MANH. StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday. Loop Capital raised their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Truist Financial increased their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.75.

Manhattan Associates Stock Up 0.1 %

Shares of MANH traded up $0.29 during mid-day trading on Tuesday, reaching $295.83. 208,688 shares of the stock traded hands, compared to its average volume of 408,740. The firm has a market cap of $18.21 billion, a price-to-earnings ratio of 96.08 and a beta of 1.50. The stock has a fifty day simple moving average of $272.92 and a 200 day simple moving average of $246.07. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $307.50.

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 analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $265.30 million for the quarter, compared to analyst estimates of $255.83 million. During the same quarter last year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. On average, equities research analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Insider Transactions at Manhattan Associates

In other 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 sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. This trade represents a 0.00 % decrease in their ownership of the stock. 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.