Manhattan Associates, Inc. (NASDAQ:MANH) Shares Acquired by Readystate Asset Management LP

Readystate Asset Management LP grew its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 36.1% during the fourth quarter, Holdings Channel reports. The firm owned 6,804 shares of the software maker’s stock after acquiring an additional 1,804 shares during the period. Readystate Asset Management LP’s holdings in Manhattan Associates were worth $1,465,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Manhattan Associates by 259.4% in the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after buying an additional 83 shares during the last quarter. Bear Mountain Capital Inc. purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $26,000. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $26,000. Eagle Bay Advisors LLC purchased a new stake in shares of Manhattan Associates in the second quarter worth about $36,000. Finally, Quarry LP purchased a new stake in shares of Manhattan Associates in the fourth quarter worth about $38,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 680 shares of the stock in a transaction that occurred 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 completion of 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 legal filing with the SEC, which is available through the SEC website. In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP James Stewart Gantt sold 680 shares of the firm’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 directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.

Manhattan Associates Stock Up 0.9 %

Shares of NASDAQ MANH traded up $2.01 during midday trading on Thursday, hitting $230.44. The stock had a trading volume of 546,778 shares, compared to its average volume of 366,016. The company has a market capitalization of $14.19 billion, a PE ratio of 81.72 and a beta of 1.44. The stock has a 50 day simple moving average of $247.10 and a 200-day simple moving average of $226.09. Manhattan Associates, Inc. has a 1 year low of $152.32 and a 1 year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. The business had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. As a group, analysts expect that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Truist Financial upped their target price on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Rosenblatt Securities reiterated a “neutral” rating and set a $225.00 price target on shares of Manhattan Associates in a research report on Monday. Raymond James increased their price target on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Finally, Citigroup assumed coverage on Manhattan Associates in a research report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $231.29.

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.