Motley Fool Asset Management LLC Takes $210,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Motley Fool Asset Management LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 977 shares of the software maker’s stock, valued at approximately $210,000.

A number of other institutional investors have also modified their holdings of the stock. Stevens Capital Management LP acquired a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $224,000. Alaska Permanent Fund Corp increased its holdings in shares of Manhattan Associates by 10.6% in the fourth quarter. Alaska Permanent Fund Corp now owns 12,879 shares of the software maker’s stock valued at $2,773,000 after purchasing an additional 1,239 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in shares of Manhattan Associates by 88.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 1,051 shares of the software maker’s stock valued at $226,000 after purchasing an additional 492 shares during the period. Yousif Capital Management LLC grew its holdings in Manhattan Associates by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 29,206 shares of the software maker’s stock worth $6,289,000 after acquiring an additional 327 shares during the period. Finally, South Dakota Investment Council acquired a new position in Manhattan Associates during the fourth quarter worth $624,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH opened at $209.02 on Friday. The business’s fifty day moving average is $244.34 and its two-hundred day moving average is $226.79. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 68.31 and a beta of 1.44. Manhattan Associates, Inc. has a one year low of $164.55 and a one year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million for 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%. On average, analysts predict that Manhattan Associates, Inc. will post 2.81 EPS for the current fiscal year.

Insider Activity

In other 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 directly owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Eddie Capel sold 10,897 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 242,153 shares in the company, 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. Also, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction dated 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 disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MANH. Rosenblatt Securities reaffirmed a “neutral” rating and set a $225.00 price objective on shares of Manhattan Associates in a report on Wednesday. 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. William Blair reaffirmed a “market perform” rating on shares of Manhattan Associates in a report on Wednesday. Truist Financial upped their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, Raymond James upped their price objective on Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $234.86.

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.