3,674 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Purchased by Mach 1 Financial Group LLC

Mach 1 Financial Group LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 3,674 shares of the software maker’s stock, valued at approximately $791,000.

Other hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC increased its holdings in Manhattan Associates by 28.8% during the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after purchasing an additional 46 shares during the period. Capital Insight Partners LLC increased its holdings in Manhattan Associates by 0.4% during the 3rd quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock worth $2,997,000 after purchasing an additional 57 shares during the period. Signaturefd LLC increased its holdings in Manhattan Associates by 4.7% during the 3rd quarter. Signaturefd LLC now owns 1,274 shares of the software maker’s stock worth $252,000 after purchasing an additional 57 shares during the period. UMB Bank n.a. increased its holdings in Manhattan Associates by 25.9% during the 4th quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after purchasing an additional 58 shares during the period. Finally, Raleigh Capital Management Inc. increased its holdings in Manhattan Associates by 19.3% during the 3rd quarter. Raleigh Capital Management Inc. now owns 395 shares of the software maker’s stock worth $78,000 after purchasing an additional 64 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Insiders Place Their Bets

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 transaction, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP James Stewart Gantt sold 680 shares of Manhattan Associates 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 transaction, the executive vice president now 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 through this hyperlink. 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 value of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares in the company, 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 company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup dropped their price objective on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Truist Financial increased their price objective on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Raymond James increased their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Manhattan Associates Stock Performance

MANH stock traded down $3.77 during midday trading on Tuesday, hitting $206.06. 607,007 shares of the stock were exchanged, compared to its average volume of 392,266. The stock’s 50-day moving average price is $242.96 and its 200-day moving average price is $227.07. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 67.34 and a beta of 1.44. Manhattan Associates, Inc. has a fifty-two week low of $165.37 and a fifty-two week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its quarterly 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. The company had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. Research analysts anticipate that Manhattan Associates, Inc. will post 2.72 EPS for the current year.

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.