Arete Wealth Advisors LLC Buys Shares of 741 Manhattan Associates, Inc. (NASDAQ:MANH)

Arete Wealth Advisors LLC purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 741 shares of the software maker’s stock, valued at approximately $208,000.

Other institutional investors have also recently made changes to their positions in the company. Innealta Capital LLC purchased a new stake in Manhattan Associates in the second quarter worth about $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates during the second quarter valued at approximately $27,000. Capital Performance Advisors LLP purchased a new position in Manhattan Associates during the third quarter valued at approximately $34,000. Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates in the second quarter worth approximately $31,000. Finally, DT Investment Partners LLC purchased a new stake in Manhattan Associates during the second quarter worth $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 owns 42,812 shares in the company, valued at $12,334,137.20. The trade was 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.

Manhattan Associates Trading Down 3.7 %

NASDAQ MANH opened at $298.17 on Friday. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $312.60. The company has a fifty day simple moving average of $286.25 and a two-hundred day simple moving average of $262.25. The stock has a market cap of $18.21 billion, a P/E ratio of 84.71 and a beta of 1.50.

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

Wall Street Analyst Weigh In

MANH has been the topic of a number of analyst reports. DA Davidson lifted their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Raymond James boosted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Piper Sandler initiated coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 price objective for the company. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

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.