Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Summit Global Investments

Summit Global Investments increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,488 shares of the software maker’s stock after purchasing an additional 270 shares during the period. Summit Global Investments’ holdings in Manhattan Associates were worth $3,766,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. California Public Employees Retirement System grew its holdings in shares of Manhattan Associates by 184.3% during the third quarter. California Public Employees Retirement System now owns 352,665 shares of the software maker’s stock worth $69,708,000 after buying an additional 228,618 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Manhattan Associates by 958.3% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 128,574 shares of the software maker’s stock worth $25,414,000 after buying an additional 116,425 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Manhattan Associates by 629.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 85,728 shares of the software maker’s stock worth $16,945,000 after acquiring an additional 73,975 shares during the last quarter. Royal Bank of Canada lifted its stake in Manhattan Associates by 42.3% during the third quarter. Royal Bank of Canada now owns 241,427 shares of the software maker’s stock worth $47,720,000 after purchasing an additional 71,725 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Manhattan Associates by 48.0% in the 3rd quarter. Swiss National Bank now owns 199,820 shares of the software maker’s stock valued at $39,496,000 after buying an additional 64,800 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Trading Up 0.7 %

Shares of NASDAQ:MANH traded up $1.53 on Thursday, reaching $209.30. 187,951 shares of the company were exchanged, compared to its average volume of 390,932. The company has a 50-day moving average of $241.55 and a 200-day moving average of $226.98. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of 68.40 and a beta of 1.45. Manhattan Associates, Inc. has a 1-year low of $166.82 and a 1-year high of $266.94.

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 the consensus estimate of $0.55 by $0.23. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. The company had revenue of $238.26 million for the quarter, compared to analyst estimates of $223.99 million. As a group, analysts forecast that Manhattan Associates, Inc. will post 2.72 earnings per share for the current year.

Analysts Set New Price Targets

MANH has been the topic of several recent analyst reports. Raymond James increased their price target on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Citigroup dropped their price objective 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, April 24th. Rosenblatt Securities restated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday, April 24th. DA Davidson upgraded shares of Manhattan Associates from a “neutral” rating to a “buy” rating and raised their target price for the stock from $220.00 to $240.00 in a research note on Thursday, April 25th. Finally, Truist Financial lifted their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.86.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred 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 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 SEC, which is available at the SEC website. Also, EVP James Stewart Gantt sold 680 shares of the company’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 value 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 approximately $14,207,022.12. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

About Manhattan Associates

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.