22,140 Shares in Manhattan Associates, Inc. $MANH Bought by Summit Creek Advisors LLC

Summit Creek Advisors LLC acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 22,140 shares of the software maker’s stock, valued at approximately $3,083,000.

Several other hedge funds have also recently modified their holdings of MANH. BlackRock Inc. purchased a new stake in shares of Manhattan Associates during the 2nd quarter valued at $944,285,000. Norges Bank purchased a new position in shares of Manhattan Associates in the 4th quarter worth about $124,264,000. T. Rowe Price Investment Management Inc. grew its position in Manhattan Associates by 35.2% during the fourth 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 buying an additional 671,589 shares during the period. Bank of New York Mellon Corp bought a new position in Manhattan Associates during the second quarter valued at about $54,011,000. Finally, Amundi grew its position in Manhattan Associates by 479.4% during the first quarter. Amundi now owns 454,095 shares of the software maker’s stock valued at $60,449,000 after buying an additional 375,719 shares during the period. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the business’s 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 sale, the executive vice president directly owned 55,676 shares in the company, 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 is accessible through this hyperlink. Also, CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,139 shares of company stock valued at $1,744,879 in the last 90 days. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. DA Davidson upped their price target on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $180.00 price objective on Manhattan Associates in a report on Wednesday, July 29th. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Barclays dropped their price objective on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a report on Friday, May 29th. Finally, Weiss Ratings upgraded shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $209.20.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $198.38 on Wednesday. The stock has a market capitalization of $11.57 billion, a P/E ratio of 56.84 and a beta of 0.93. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $220.59. The firm’s 50 day simple moving average is $161.71 and its two-hundred day simple moving average is $147.22.

Manhattan Associates (NASDAQ:MANH) last released 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. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. During the same quarter last year, the business posted $1.31 EPS. The business’s revenue was up 9.3% on a year-over-year basis. As a group, equities analysts expect 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.