NewEdge Wealth LLC Acquires Shares of 8,706 Manhattan Associates, Inc. $MANH

NewEdge Wealth LLC purchased a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 8,706 shares of the software maker’s stock, valued at approximately $1,212,000.

Other large investors have also recently added to or reduced their stakes in the company. Summit Creek Advisors LLC bought a new position in Manhattan Associates during the second quarter worth about $3,083,000. First National Bank of Omaha acquired a new position in Manhattan Associates during the second quarter valued at approximately $1,182,000. Meeder Advisory Services Inc. acquired a new position in shares of Manhattan Associates during the 2nd quarter worth $265,000. Meeder Asset Management Inc. bought a new position in shares of Manhattan Associates in the second quarter worth about $894,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in Manhattan Associates in the second quarter valued at approximately $326,000. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on MANH shares. Robert W. Baird lifted their price target on Manhattan Associates from $186.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Stifel Nicolaus upped their price target on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a research report on Wednesday, July 29th. DA Davidson raised their target price on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Finally, Citigroup lifted their price target 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. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $209.20.

Manhattan Associates Stock Up 1.6%

MANH stock opened at $214.56 on Friday. The firm has a market cap of $12.51 billion, a PE ratio of 61.48 and a beta of 0.93. The business has a 50 day moving average of $165.78 and a 200-day moving average of $148.46. Manhattan Associates, Inc. has a 12-month low of $119.06 and a 12-month high of $220.31.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $297.79 million during the quarter, compared to analyst estimates of $289.03 million. During the same period last year, the firm posted $1.31 EPS. The business’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Insiders Place Their Bets

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 stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the sale, the executive vice president directly owned 55,676 shares in the company, valued at $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of Manhattan Associates stock in a transaction dated Tuesday, August 11th. The stock was 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 directly owned 89,638 shares of the company’s stock, valued at approximately $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 sold 9,139 shares of company stock valued at $1,744,879 over the last three months. Company insiders own 0.84% of the company’s stock.

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.