Jupiter Topco LLC Makes New $3.68 Million Investment in Manhattan Associates, Inc. $MANH

Jupiter Topco LLC bought a new stake in Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 26,388 shares of the software maker’s stock, valued at approximately $3,677,000.

Several other hedge funds have also made changes to their positions in MANH. Caitong International Asset Management Co. Ltd grew its stake in Manhattan Associates by 448.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after buying an additional 112 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Manhattan Associates by 508.9% during the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after acquiring an additional 229 shares in the last quarter. BNP Paribas bought a new position in shares of Manhattan Associates in the fourth quarter worth $39,000. TD Private Client Wealth LLC boosted its holdings in shares of 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 acquiring an additional 109 shares during the period. Finally, Leonteq Securities AG purchased a new position in shares of Manhattan Associates in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 5,139 shares of the firm’s stock in a transaction that occurred on Thursday, July 30th. The shares were 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 of the company’s stock, valued at $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The sale was disclosed in a document filed 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 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 owned 89,638 shares of the company’s stock, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 9,139 shares of company stock worth $1,744,879 over the last ninety days. 0.84% of the stock is currently owned by insiders.

Manhattan Associates Stock Down 3.1%

Manhattan Associates stock opened at $216.21 on Wednesday. The stock has a market cap of $12.61 billion, a price-to-earnings ratio of 61.95 and a beta of 0.95. The business has a 50-day simple moving average of $177.57 and a 200 day simple moving average of $152.18. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $227.03.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share 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 for the quarter, compared to analysts’ expectations of $289.03 million. During the same quarter last year, the firm posted $1.31 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts anticipate that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Wall Street Analyst Weigh In

MANH has been the topic of a number of recent research reports. DA Davidson increased their price objective on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Wall Street Zen lowered Manhattan Associates from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Robert W. Baird upped their price target on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Weiss Ratings raised shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Finally, Morgan Stanley set a $180.00 price objective on shares of Manhattan Associates in a research note on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $213.40.

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.