Mackenzie Financial Corp Increases Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Mackenzie Financial Corp lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,204 shares of the software maker’s stock after acquiring an additional 2,880 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Manhattan Associates worth $7,365,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky increased its position in shares of Manhattan Associates by 59.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after acquiring an additional 8,094 shares during the last quarter. Highland Capital Management LLC acquired a new position in Manhattan Associates in the fourth quarter worth about $1,142,000. Redhawk Wealth Advisors Inc. acquired a new position in Manhattan Associates in the fourth quarter worth about $1,050,000. Meeder Asset Management Inc. acquired a new position in Manhattan Associates in the fourth quarter worth about $2,039,000. Finally, Zions Bancorporation N.A. grew its stake in Manhattan Associates by 6.2% in the third quarter. Zions Bancorporation N.A. now owns 8,418 shares of the software maker’s stock worth $1,664,000 after purchasing an additional 489 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MANH. Raymond James lifted their price target on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Citigroup began coverage on Manhattan Associates in a research note on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price target for the company. Truist Financial lifted their price target on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research note on Monday, April 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $231.29.

Manhattan Associates Trading Down 1.8 %

NASDAQ:MANH opened at $226.34 on Friday. The firm has a market capitalization of $13.94 billion, a PE ratio of 80.26 and a beta of 1.44. The stock has a 50 day moving average of $246.62 and a 200-day moving average of $226.28. Manhattan Associates, Inc. has a 52 week low of $152.32 and a 52 week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The company had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. As a group, analysts predict that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Stewart Gantt sold 680 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the transaction, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Manhattan Associates 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.