Harvest Fund Management Co. Ltd Raises Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Harvest Fund Management Co. Ltd lifted its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 88.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,051 shares of the software maker’s stock after buying an additional 492 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Manhattan Associates were worth $226,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. FMR LLC boosted its position in shares of Manhattan Associates by 2.1% during the 3rd quarter. FMR LLC now owns 1,628,850 shares of the software maker’s stock worth $321,958,000 after purchasing an additional 33,549 shares in the last quarter. Morgan Stanley lifted its position in shares of Manhattan Associates by 0.9% during the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after acquiring an additional 13,303 shares during the period. Northern Trust Corp boosted its stake in shares of Manhattan Associates by 10.5% during the 3rd quarter. Northern Trust Corp now owns 645,187 shares of the software maker’s stock worth $127,528,000 after acquiring an additional 61,437 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in shares of Manhattan Associates by 19.3% during the 3rd quarter. Los Angeles Capital Management LLC now owns 367,066 shares of the software maker’s stock worth $72,554,000 after acquiring an additional 59,366 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Manhattan Associates by 2.5% in the 4th quarter. California Public Employees Retirement System now owns 361,476 shares of the software maker’s stock valued at $77,833,000 after purchasing an additional 8,811 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a report on Wednesday. Raymond James raised their target price on shares of Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Citigroup lowered their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research report on Wednesday. DA Davidson upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $220.00 to $240.00 in a research report on Thursday. Finally, Truist Financial increased their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $234.86.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of Manhattan Associates stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total value of $2,699,513.81. Following the transaction, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now owns 242,153 shares in the company, valued at approximately $59,988,562.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 680 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now directly owns 57,093 shares in the company, valued at $14,207,022.12. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Manhattan Associates Stock Performance

Shares of MANH opened at $207.35 on Thursday. Manhattan Associates, Inc. has a fifty-two week low of $163.43 and a fifty-two week high of $266.94. The stock has a fifty day moving average of $245.97 and a two-hundred day moving average of $227.06. The company has a market capitalization of $12.77 billion, a PE ratio of 67.43 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.23. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. The firm had revenue of $238.26 million for the quarter, compared to the consensus estimate of $223.99 million. As a group, equities research analysts forecast that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.