Eventide Asset Management LLC Purchases Shares of 7,699 Manhattan Associates, Inc. (NASDAQ:MANH)

Eventide Asset Management LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 7,699 shares of the software maker’s stock, valued at approximately $2,166,000.

A number of other hedge funds have also recently made changes to their positions in MANH. Fidelis Capital Partners LLC boosted its stake in shares of Manhattan Associates by 3.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after buying an additional 40 shares during the period. UMB Bank n.a. raised its holdings in Manhattan Associates by 16.7% in the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after acquiring an additional 43 shares in the last quarter. SkyView Investment Advisors LLC lifted its stake in Manhattan Associates by 0.9% in the second 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 during the last quarter. Huntington National Bank grew its holdings in Manhattan Associates by 5.9% during the 3rd quarter. Huntington National Bank now owns 879 shares of the software maker’s stock worth $247,000 after acquiring an additional 49 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Manhattan Associates by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 3,475 shares of the 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 directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of analyst reports. Truist Financial boosted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Robert W. Baird upped 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. Piper Sandler began coverage on Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Raymond James upped their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Finally, Citigroup raised their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

Manhattan Associates Trading Down 0.8 %

Shares of MANH opened at $285.44 on Friday. The company’s 50 day simple moving average is $282.27 and its 200-day simple moving average is $256.35. The firm 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 12-month low of $199.23 and a 12-month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million during the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the prior year, the business earned $0.79 EPS. Manhattan Associates’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

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.