Kovitz Investment Group Partners LLC Purchases New Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Kovitz Investment Group Partners LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,758 shares of the software maker’s stock, valued at approximately $495,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates in the second quarter valued at $26,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates during the second quarter valued at $27,000. Capital Performance Advisors LLP purchased a new stake in Manhattan Associates in the 3rd quarter worth about $34,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates during the 2nd quarter worth about $31,000. Finally, DT Investment Partners LLC purchased a new position in Manhattan Associates during the 2nd quarter valued at about $31,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $309.78 on Friday. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $312.60. The company’s fifty day moving average price is $285.94 and its two-hundred day moving average price is $261.51. The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of 88.01 and a beta of 1.50.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on MANH shares. Citigroup increased their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Piper Sandler started coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price for the company. Loop Capital upped their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Robert W. Baird increased their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, DA Davidson boosted their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.78.

Insider Activity

In other news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. 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.