Pin Oak Investment Advisors Inc. Invests $843,000 in Manhattan Associates, Inc. $MANH

Pin Oak Investment Advisors Inc. acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,054 shares of the software maker’s stock, valued at approximately $843,000.

Other hedge funds also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased 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 worth $28,000 after buying an additional 112 shares in the last quarter. BNP Paribas bought a new position in shares of Manhattan Associates during the fourth quarter worth $39,000. TD Private Client Wealth LLC lifted its stake in Manhattan Associates by 83.8% in the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after purchasing an additional 109 shares in the last quarter. Leonteq Securities AG bought a new position in shares of Manhattan Associates during the 4th quarter valued at about $44,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Manhattan Associates during the fourth quarter valued at about $49,000. 98.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Manhattan Associates

In other news, CEO Eric Andrew Clark sold 3,000 shares of Manhattan Associates stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the sale, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction dated 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 owned 55,676 shares in the company, valued at approximately $10,886,328.28. The trade was a 8.45% 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 worth $1,744,879 in the last ninety days. 0.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on MANH. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a report on Wednesday, July 29th. Barclays lowered their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Citigroup upped their target price on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Finally, Robert W. Baird lifted their price target on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average target price of $213.40.

Manhattan Associates Trading Down 0.2%

MANH stock opened at $223.28 on Friday. The stock has a market cap of $13.02 billion, a PE ratio of 63.98 and a beta of 0.93. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $227.03. The company has a 50-day moving average price of $173.96 and a 200 day moving average price of $151.13.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data 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. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The company had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same period in the prior year, the company posted $1.31 EPS. The firm’s revenue for the quarter was up 9.3% on a year-over-year basis. Sell-side analysts forecast that Manhattan Associates, Inc. will post 3.87 EPS for the current year.

About Manhattan Associates

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.