Carolina Wealth Advisors LLC Buys 607 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Carolina Wealth Advisors LLC grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 342.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 784 shares of the software maker’s stock after buying an additional 607 shares during the quarter. Carolina Wealth Advisors LLC’s holdings in Manhattan Associates were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC increased its position in Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after purchasing an additional 382 shares during the period. Oak Thistle LLC bought a new stake in Manhattan Associates in the 4th quarter valued at approximately $1,326,000. Mediolanum International Funds Ltd increased its position in shares of Manhattan Associates by 602.0% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock worth $5,607,000 after purchasing an additional 17,187 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Finally, Chartwell Investment Partners LLC increased its holdings in shares of Manhattan Associates by 31.1% during the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock worth $6,065,000 after acquiring an additional 5,119 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value 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 approximately $12,334,137.20. This trade represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Raymond James increased their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson raised their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler began coverage on Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.89.

Manhattan Associates Stock Up 1.3 %

NASDAQ MANH opened at $274.46 on Thursday. The company has a market cap of $16.76 billion, a price-to-earnings ratio of 77.97 and a beta of 1.52. Manhattan Associates, Inc. has a 52 week low of $205.12 and a 52 week high of $312.60. The business has a 50 day moving average price of $282.62 and a 200-day moving average price of $269.71.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) 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 company had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Manhattan Associates’s quarterly revenue was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate 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.