ProShare Advisors LLC Acquires 245 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Posted by on Apr 28th, 2023

ProShare Advisors LLC boosted its position in Manhattan Associates, Inc. (NASDAQ:MANH – Get Rating) by 4.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,616 shares of the software maker’s stock after buying an additional 245 shares during the quarter. ProShare Advisors LLC’s holdings in Manhattan Associates were worth $682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MANH. Goldman Sachs Group Inc. grew its stake in Manhattan Associates by 37.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 819,305 shares of the software maker’s stock valued at $93,892,000 after buying an additional 225,136 shares during the last quarter. BlackRock Inc. grew its stake in Manhattan Associates by 2.9% in the 3rd quarter. BlackRock Inc. now owns 6,275,950 shares of the software maker’s stock valued at $834,890,000 after buying an additional 179,044 shares during the last quarter. Raymond James & Associates grew its stake in Manhattan Associates by 225.1% in the 3rd quarter. Raymond James & Associates now owns 187,114 shares of the software maker’s stock valued at $24,892,000 after buying an additional 129,550 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in Manhattan Associates by 14,221.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 124,742 shares of the software maker’s stock valued at $15,144,000 after buying an additional 123,871 shares during the last quarter. Finally, Neuberger Berman Group LLC grew its stake in Manhattan Associates by 4.0% in the 3rd quarter. Neuberger Berman Group LLC now owns 2,718,477 shares of the software maker’s stock valued at $361,640,000 after buying an additional 105,514 shares during the last quarter. 96.92% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

NASDAQ MANH opened at $168.64 on Friday. The company’s fifty day moving average is $149.41 and its two-hundred day moving average is $133.34. Manhattan Associates, Inc. has a 52-week low of $106.02 and a 52-week high of $175.00. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 82.67 and a beta of 1.58.

Manhattan Associates (NASDAQ:MANH – Get Rating) last posted its earnings results on Thursday, February 2nd. The software maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.30. The business had revenue of $198.10 million for the quarter, compared to analysts’ expectations of $182.64 million. Manhattan Associates had a net margin of 16.95% and a return on equity of 64.94%. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 1.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MANH has been the topic of a number of research analyst reports. DA Davidson raised their target price on shares of Manhattan Associates from $145.00 to $160.00 in a research note on Wednesday. Rosenblatt Securities raised their price target on shares of Manhattan Associates from $150.00 to $160.00 in a research report on Wednesday. StockNews.com initiated coverage on shares of Manhattan Associates in a research report on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, Robert W. Baird raised their price target on shares of Manhattan Associates from $168.00 to $184.00 in a research report on Wednesday.

Insider Activity at Manhattan Associates

In related news, Director John J. Huntz, Jr. sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $143.65, for a total value of $143,650.00. Following the sale, the director now owns 65,887 shares of the company’s stock, valued at $9,464,667.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Manhattan Associates news, CEO Eddie Capel sold 42,678 shares of the company’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $144.04, for a total transaction of $6,147,339.12. Following the sale, the chief executive officer now directly owns 207,422 shares of the company’s stock, valued at $29,877,064.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John J. Huntz, Jr. sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $143.65, for a total transaction of $143,650.00. Following the sale, the director now directly owns 65,887 shares in the company, valued at $9,464,667.55. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Manhattan Associates Company Profile

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Manhattan Associates, Inc engages in developing, selling, deploying, servicing, and maintaining software solutions. Its solutions focus on supply chains, inventory, and omnichannel for retailers, wholesalers, manufacturers, logistics providers and other organizations. It operates through the following geographical segments: The Americas, Europe, Middle East and Africa, and Asia Pacific.

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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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