2,880 Shares in Manhattan Associates, Inc. $MANH Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,880 shares of the software maker’s stock, valued at approximately $401,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd lifted its stake in Manhattan Associates by 448.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after buying an additional 112 shares in the last quarter. BNP Paribas acquired a new position in shares of Manhattan Associates during the fourth quarter valued at approximately $39,000. TD Private Client Wealth LLC lifted its position in shares of Manhattan Associates by 83.8% in the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock valued at $41,000 after acquiring an additional 109 shares in the last quarter. Leonteq Securities AG purchased a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $44,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter worth approximately $49,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH stock opened at $211.21 on Friday. The firm has a market cap of $12.32 billion, a PE ratio of 60.52 and a beta of 0.93. The firm’s 50 day moving average price is $164.34 and its 200-day moving average price is $148.00. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $220.31.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.07. The company had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.31 earnings per share. Equities research analysts predict that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the transaction, the executive vice president directly owned 55,676 shares in the company, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Andrew Clark sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 9,139 shares of company stock worth $1,744,879. Corporate insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on MANH shares. Barclays dropped their price target on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a research note on Wednesday, July 29th. Stifel Nicolaus raised their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. DA Davidson boosted their price target on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Citigroup upped their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $209.20.

Manhattan Associates Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.