Oppenheimer Asset Management Inc. Acquires Shares of 7,986 Manhattan Associates, Inc. $MANH

Oppenheimer Asset Management Inc. bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 7,986 shares of the software maker’s stock, valued at approximately $1,112,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its stake in shares of Manhattan Associates by 448.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after purchasing an additional 112 shares during the period. BNP Paribas bought a new position in shares of Manhattan Associates in the fourth quarter worth about $39,000. TD Private Client Wealth LLC increased its stake in Manhattan Associates by 83.8% in the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after buying an additional 109 shares during the period. Leonteq Securities AG purchased a new position in Manhattan Associates in the 4th quarter worth about $44,000. Finally, Los Angeles Capital Management LLC bought a new stake in Manhattan Associates during the 4th quarter valued at about $49,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a research report on Wednesday, July 29th. 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 note on Tuesday, July 21st. Robert W. Baird boosted their price target on Manhattan Associates from $186.00 to $218.00 and gave the company an “outperform” rating in a report on Wednesday, July 29th. Finally, 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. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average target price of $209.20.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $197.39 on Monday. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $220.59. The company has a 50-day moving average of $159.68 and a 200 day moving average of $146.77. The firm has a market cap of $11.51 billion, a PE ratio of 56.56 and a beta of 0.93.

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

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction on Thursday, July 30th. The stock was 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 owned 55,676 shares in the company, valued at $10,886,328.28. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Eric Andrew Clark sold 3,000 shares of the company’s stock in a transaction 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 sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 9,139 shares of company stock worth $1,744,879. 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.