Bank of Nova Scotia Acquires Shares of 10,385 Manhattan Associates, Inc. $MANH

Bank of Nova Scotia bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,385 shares of the software maker’s stock, valued at approximately $1,446,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Manhattan Associates by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 6,957,028 shares of the software maker’s stock worth $1,205,723,000 after purchasing an additional 136,708 shares during the last quarter. BlackRock Inc. acquired a new stake in Manhattan Associates during the 2nd quarter worth $944,285,000. T. Rowe Price Investment Management Inc. raised its position in shares of Manhattan Associates by 35.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,580,241 shares of the software maker’s stock valued at $447,182,000 after acquiring an additional 671,589 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Manhattan Associates by 6.9% in the 4th quarter. AQR Capital Management LLC now owns 2,219,539 shares of the software maker’s stock valued at $384,668,000 after purchasing an additional 142,407 shares during the period. Finally, Morgan Stanley boosted its position in shares of Manhattan Associates by 2.5% in the 4th quarter. Morgan Stanley now owns 2,178,422 shares of the software maker’s stock worth $377,543,000 after purchasing an additional 53,037 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock opened at $215.89 on Thursday. The firm has a market cap of $12.59 billion, a PE ratio of 61.86 and a beta of 0.93. The business’s 50 day simple moving average is $170.31 and its 200 day simple moving average is $150.07. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $220.31.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share 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 the consensus estimate of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.31 EPS. As a group, equities research analysts predict that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MANH shares. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a research note on Wednesday, July 29th. Stifel Nicolaus lifted their price objective on Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, July 29th. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Barclays cut their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research report on Friday, May 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and a consensus target price of $213.40.

Insider Buying and Selling at Manhattan Associates

In related news, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction on Thursday, July 30th. The shares were 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 owned 55,676 shares in the company, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The sale 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 on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 9,139 shares of company stock valued at $1,744,879 in the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

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.