9,906 Shares in Manhattan Associates, Inc. $MANH Purchased by L2 Asset Management LLC

L2 Asset Management LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,906 shares of the software maker’s stock, valued at approximately $1,379,000.

A number of other hedge funds have also recently added to or reduced their stakes in MANH. NewEdge Advisors LLC raised its stake in shares of Manhattan Associates by 3.3% in the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock worth $366,000 after acquiring an additional 59 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Manhattan Associates by 2.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock valued at $555,000 after purchasing an additional 69 shares during the last quarter. Covestor Ltd grew its stake in shares of Manhattan Associates by 12.2% during the fourth quarter. Covestor Ltd now owns 670 shares of the software maker’s stock valued at $116,000 after purchasing an additional 73 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Manhattan Associates by 3.4% in the fourth quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker’s stock valued at $402,000 after purchasing an additional 76 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of Manhattan Associates by 1.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock valued at $1,104,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $213.18 on Tuesday. Manhattan Associates, Inc. has a fifty-two week low of $119.06 and a fifty-two week high of $220.31. The firm has a market capitalization of $12.43 billion, a P/E ratio of 61.08 and a beta of 0.93. The company’s 50 day simple moving average is $167.16 and its 200 day simple moving average is $149.00.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The firm had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 EPS. Sell-side analysts expect that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 5,139 shares of the firm’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the transaction, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Eric Andrew Clark sold 3,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,139 shares of company stock valued at $1,744,879 over the last quarter. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on MANH. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a report on Wednesday, July 29th. Robert W. Baird lifted their target price on Manhattan Associates from $186.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Citigroup boosted their target price on Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Weiss Ratings raised Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Finally, DA Davidson raised their price target on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $209.20.

Manhattan Associates Company 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.