Wealth Effects LLC Takes $266,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Wealth Effects LLC bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 2nd quarter, Holdings Channel.com reports. The firm bought 1,080 shares of the software maker’s stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. CenterBook Partners LP purchased a new position in shares of Manhattan Associates in the fourth quarter valued at about $761,000. Nomura Asset Management Co. Ltd. increased its holdings in Manhattan Associates by 82.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after purchasing an additional 12,124 shares during the period. Vinva Investment Management Ltd raised its position in Manhattan Associates by 69.5% during the 4th quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock valued at $8,570,000 after purchasing an additional 16,229 shares during the last quarter. Weiss Asset Management LP bought a new position in Manhattan Associates during the 4th quarter valued at approximately $1,417,000. Finally, Boston Trust Walden Corp lifted its holdings in Manhattan Associates by 3.3% in the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock worth $27,022,000 after buying an additional 3,525 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Down 1.0 %

Manhattan Associates stock traded down $2.69 on Wednesday, hitting $253.70. 8,182 shares of the stock traded hands, compared to its average volume of 410,359. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $267.00. The firm has a market cap of $15.62 billion, a P/E ratio of 83.79 and a beta of 1.50. The business’s fifty day simple moving average is $248.03 and its 200 day simple moving average is $239.07.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results 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. The company had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. Manhattan Associates’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. As a group, analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

MANH has been the topic of several research analyst reports. DA Davidson boosted their target price on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup boosted their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Redburn Atlantic initiated coverage on shares of Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective for the company. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Loop Capital boosted their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $257.43.

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.