Virtus Advisers LLC Buys Shares of 2,542 Manhattan Associates, Inc. $MANH

Virtus Advisers LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,542 shares of the software maker’s stock, valued at approximately $354,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in shares of 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 purchasing an additional 112 shares in the last quarter. Versant Capital Management Inc increased its position in Manhattan Associates by 508.9% during the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after purchasing an additional 229 shares in the last quarter. BNP Paribas acquired a new position in Manhattan Associates during the 4th quarter worth approximately $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 valued at $41,000 after purchasing an additional 109 shares during the last quarter. Finally, Leonteq Securities AG bought a new position in Manhattan Associates in the 4th quarter valued at approximately $44,000. Institutional investors own 98.45% of the company’s stock.

Insider Activity

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of Manhattan Associates 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 transaction, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer owned 89,638 shares in the company, valued at $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 a total of 9,139 shares of company stock worth $1,744,879 over the last ninety days. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

MANH has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Morgan Stanley set a $180.00 price target on Manhattan Associates in a research note on Wednesday, July 29th. Barclays cut their price objective on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. DA Davidson boosted their price objective on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Stifel Nicolaus upped their target price on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Eight investment 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, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $209.20.

Manhattan Associates Stock Performance

MANH stock opened at $214.56 on Friday. The company has a market capitalization of $12.51 billion, a P/E ratio of 61.48 and a beta of 0.93. The company has a fifty day moving average price of $165.78 and a 200-day moving average price of $148.46. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week 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 for the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. Manhattan Associates’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.31 earnings per share. As a group, sell-side analysts forecast that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

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.