Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC boosted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 22.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,899 shares of the software maker’s stock after buying an additional 2,030 shares during the quarter. MML Investors Services LLC’s holdings in Manhattan Associates were worth $3,067,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MANH. Innealta Capital LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth approximately $26,000. International Assets Investment Management LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth approximately $27,000. DT Investment Partners LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth approximately $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth approximately $31,000. Finally, Capital Performance Advisors LLP acquired a new stake in Manhattan Associates during the 3rd quarter worth approximately $34,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on MANH. Truist Financial increased their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Robert W. Baird increased their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler began coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective on the stock. Raymond James increased their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Finally, DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Manhattan Associates Price Performance

NASDAQ MANH opened at $298.17 on Friday. The firm’s fifty day moving average price is $286.25 and its 200 day moving average price is $262.25. The company has a market capitalization of $18.21 billion, a price-to-earnings ratio of 84.71 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $312.60.

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

About Manhattan Associates

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.