Ieq Capital LLC Invests $5.95 Million in Manhattan Associates, Inc. $MANH

Ieq Capital LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 42,755 shares of the software maker’s stock, valued at approximately $5,954,000.

A number of other hedge funds also recently bought and sold shares of MANH. NewEdge Advisors LLC lifted its position in shares of Manhattan Associates by 3.3% in the 2nd quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock valued at $366,000 after acquiring an additional 59 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Manhattan Associates by 2.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock worth $555,000 after purchasing an additional 69 shares during the period. Covestor Ltd grew its position in Manhattan Associates by 12.2% during the 4th quarter. Covestor Ltd now owns 670 shares of the software maker’s stock worth $116,000 after purchasing an additional 73 shares in the last quarter. Verdence Capital Advisors LLC grew its position in Manhattan Associates by 3.4% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker’s stock worth $402,000 after purchasing an additional 76 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in Manhattan Associates by 1.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock valued at $1,104,000 after purchasing an additional 80 shares during the period. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $214.56 on Monday. The company has a fifty day simple moving average of $165.78 and a 200 day simple moving average of $148.45. The company has a market cap of $12.51 billion, a P/E ratio of 61.48 and a beta of 0.93. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $220.31.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. The firm had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.31 EPS. Equities research analysts forecast that Manhattan Associates, Inc. will post 3.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 9,139 shares of company stock valued at $1,744,879 over the last 90 days. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MANH shares. Barclays decreased their target price on Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Stifel Nicolaus increased their price objective on Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Robert W. Baird raised their price objective on Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Weiss Ratings raised Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, July 14th. Finally, Morgan Stanley set a $180.00 target price on Manhattan Associates in a research note on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $209.20.

Manhattan Associates 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.