Geode Capital Management LLC Increases Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Geode Capital Management LLC grew its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 5.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,514,941 shares of the software maker’s stock after acquiring an additional 82,995 shares during the period. Geode Capital Management LLC’s holdings in Manhattan Associates were worth $426,308,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. EWA LLC acquired a new position in shares of Manhattan Associates during the 3rd quarter worth about $212,000. Nomura Asset Management Co. Ltd. raised its position in shares of Manhattan Associates by 1.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 29,667 shares of the software maker’s stock valued at $8,348,000 after buying an additional 300 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Manhattan Associates by 22.9% in the third quarter. MML Investors Services LLC now owns 10,899 shares of the software maker’s stock worth $3,067,000 after buying an additional 2,030 shares in the last quarter. Zacks Investment Management boosted its position in Manhattan Associates by 49.4% during the third quarter. Zacks Investment Management now owns 146,417 shares of the software maker’s stock worth $41,199,000 after acquiring an additional 48,381 shares during the last quarter. Finally, DF Dent & Co. Inc. boosted its position in Manhattan Associates by 52.3% during the third quarter. DF Dent & Co. Inc. now owns 238,628 shares of the software maker’s stock worth $67,145,000 after acquiring an additional 81,944 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler started coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Loop Capital raised their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Robert W. Baird boosted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $290.78.

Insiders Place Their Bets

In related news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated Friday, November 29th. The stock was 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 owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Manhattan Associates Trading Down 3.7 %

Shares of MANH opened at $298.17 on Friday. The company’s 50-day moving average price is $286.25 and its 200 day moving average price is $262.00. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $312.60. The firm has a market cap of $18.21 billion, a P/E ratio of 84.71 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business’s revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 EPS. Equities research analysts forecast that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

Manhattan Associates 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.