Manhattan Associates, Inc. $MANH Shares Acquired by Royce & Associates LP

Royce & Associates LP boosted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 13.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 355,306 shares of the software maker’s stock after purchasing an additional 41,002 shares during the quarter. Manhattan Associates accounts for about 0.6% of Royce & Associates LP’s portfolio, making the stock its 16th largest holding. Royce & Associates LP owned approximately 0.61% of Manhattan Associates worth $70,599,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Optas LLC raised its position in shares of Manhattan Associates by 7.6% in the third quarter. Optas LLC now owns 1,750 shares of the software maker’s stock valued at $348,000 after buying an additional 124 shares in the last quarter. Danske Bank A S grew its position in Manhattan Associates by 38,428.0% during the third quarter. Danske Bank A S now owns 38,528 shares of the software maker’s stock worth $7,656,000 after buying an additional 38,428 shares in the last quarter. Aberdeen Group plc grew its position in Manhattan Associates by 193.2% during the third quarter. Aberdeen Group plc now owns 67,768 shares of the software maker’s stock worth $13,466,000 after buying an additional 44,652 shares in the last quarter. William Blair Investment Management LLC increased its stake in Manhattan Associates by 25.5% during the 3rd quarter. William Blair Investment Management LLC now owns 847,546 shares of the software maker’s stock worth $168,407,000 after acquiring an additional 172,150 shares during the period. Finally, Fifth Third Bancorp increased its stake in Manhattan Associates by 1.9% during the 3rd quarter. Fifth Third Bancorp now owns 21,023 shares of the software maker’s stock worth $4,177,000 after acquiring an additional 398 shares during the period. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on MANH shares. Stifel Nicolaus lifted their price objective on Manhattan Associates from $250.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, November 1st. Barclays increased their target price on Manhattan Associates from $239.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Truist Financial restated a “buy” rating and issued a $305.00 price target (up from $240.00) on shares of Manhattan Associates in a research report on Wednesday, October 28th. Finally, DA Davidson boosted their price target on Manhattan Associates from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.11.

Manhattan Associates Price Performance

NASDAQ:MANH traded up $0.78 during mid-day trading on Friday, reaching $257.15. The stock had a trading volume of 324,895 shares, compared to its average volume of 933,116. The stock has a 50-day simple moving average of $224.11 and a two-hundred day simple moving average of $170.87. The stock has a market capitalization of $14.93 billion, a PE ratio of 72.03 and a beta of 0.85. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $263.47.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, beating the consensus estimate of $1.46 by $0.09. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The business had revenue of $306.19 million during the quarter, compared to the consensus estimate of $297.01 million. During the same period in the previous year, the business earned $1.36 earnings per share. The company’s revenue was up 11.0% on a year-over-year basis. Equities analysts expect that Manhattan Associates, Inc. will post 3.88 EPS for the current year.

Insider Activity

In other news, Director Linda Hollembaek sold 1,315 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $250.00, for a total transaction of $328,750.00. Following the completion of the transaction, the director owned 10,953 shares of the company’s stock, valued at approximately $2,738,250. The trade was a 10.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

About Manhattan Associates

Manhattan Associates (NASDAQ: MANH) develops software and provides services that help businesses manage supply chains, inventory and commerce operations. Its solutions support activities such as warehouse and transportation management, order fulfillment, labor management and coordination of sales across online and physical channels. The company’s product portfolio includes Manhattan Active, a cloud-native platform designed to connect supply chain and omnichannel commerce functions. Manhattan Associates serves organizations across industries including retail, manufacturing, wholesale distribution and consumer goods, with customers and operations in markets around the world.