Kestra Investment Management LLC Acquires Shares of 1,998 Manhattan Associates, Inc. (NASDAQ:MANH)

Kestra Investment Management LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,998 shares of the software maker’s stock, valued at approximately $562,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Fidelis Capital Partners LLC grew its stake in Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock worth $347,000 after purchasing an additional 40 shares in the last quarter. UMB Bank n.a. grew its position in shares of Manhattan Associates by 16.7% in the 3rd quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock worth $85,000 after acquiring an additional 43 shares in the last quarter. SkyView Investment Advisors LLC grew its position in shares of Manhattan Associates by 0.9% in the 2nd quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock worth $1,238,000 after acquiring an additional 46 shares in the last quarter. Huntington National Bank increased its holdings in shares of Manhattan Associates by 5.9% in the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after acquiring an additional 49 shares during the last quarter. Finally, CIBC Asset Management Inc raised its position in shares of Manhattan Associates by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after acquiring an additional 58 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.8 %

MANH opened at $285.44 on Monday. The business’s 50 day moving average is $282.46 and its 200-day moving average is $257.13. The stock has a market cap of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a twelve month low of $199.23 and a twelve month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the previous year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, analysts forecast that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on MANH. Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Loop Capital lifted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Raymond James upped their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.78.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.