Stevens Capital Management LP Purchases New Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Stevens Capital Management LP purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,041 shares of the software maker’s stock, valued at approximately $224,000.

Several other large investors have also recently added to or reduced their stakes in the stock. CWM LLC boosted its position in Manhattan Associates by 22.0% in the 3rd quarter. CWM LLC now owns 997 shares of the software maker’s stock valued at $197,000 after buying an additional 180 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of Manhattan Associates by 119.8% during the third quarter. AE Wealth Management LLC now owns 3,271 shares of the software maker’s stock worth $647,000 after purchasing an additional 1,783 shares during the last quarter. IFP Advisors Inc lifted its position in shares of Manhattan Associates by 6.4% during the third quarter. IFP Advisors Inc now owns 1,250 shares of the software maker’s stock worth $247,000 after purchasing an additional 75 shares during the last quarter. Global Retirement Partners LLC lifted its position in shares of Manhattan Associates by 59.2% during the third quarter. Global Retirement Partners LLC now owns 581 shares of the software maker’s stock worth $116,000 after purchasing an additional 216 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Manhattan Associates by 61.5% during the third quarter. SG Americas Securities LLC now owns 9,287 shares of the software maker’s stock worth $1,836,000 after purchasing an additional 3,537 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MANH has been the topic of several research reports. Truist Financial increased their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Raymond James increased their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. DA Davidson upgraded shares of Manhattan Associates from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $220.00 to $240.00 in a research note on Thursday. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday. Finally, Citigroup dropped their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded up $0.72 during mid-day trading on Friday, reaching $209.02. 456,441 shares of the company traded hands, compared to its average volume of 389,598. Manhattan Associates, Inc. has a fifty-two week low of $164.55 and a fifty-two week high of $266.94. The firm has a market cap of $12.87 billion, a PE ratio of 68.79 and a beta of 1.44. The stock has a fifty day simple moving average of $245.12 and a 200-day simple moving average of $226.92.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. As a group, analysts predict that Manhattan Associates, Inc. will post 2.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the sale, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

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.