The Manufacturers Life Insurance Company Makes New Investment in Manhattan Associates, Inc. $MANH

The Manufacturers Life Insurance Company acquired a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to its most recent filing with the SEC. The firm acquired 40,187 shares of the software maker’s stock, valued at approximately $5,596,000.

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

Manhattan Associates Trading Down 0.0%

NASDAQ MANH opened at $223.19 on Tuesday. Manhattan Associates, Inc. has a 12 month low of $119.06 and a 12 month high of $227.03. The stock has a 50-day simple moving average of $175.85 and a 200 day simple moving average of $151.67. The company has a market capitalization of $13.01 billion, a PE ratio of 63.95 and a beta of 0.93.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The firm had revenue of $297.79 million for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.31 earnings per share. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, 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 value of $593,280.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the 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 approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,139 shares of company stock worth $1,744,879 in the last three months. 0.84% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. 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. DA Davidson lifted their price target on shares of Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Citigroup boosted their price target on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Robert W. Baird increased their price objective on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Finally, Stifel Nicolaus raised their price objective on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Eight analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $213.40.

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.