Asset Management One Co. Ltd. Buys 40,194 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Posted by on Apr 30th, 2023

Asset Management One Co. Ltd. boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH – Get Rating) by 552.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,466 shares of the software maker’s stock after purchasing an additional 40,194 shares during the period. Asset Management One Co. Ltd. owned about 0.08% of Manhattan Associates worth $5,774,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in Manhattan Associates in the 3rd quarter valued at approximately $32,000. Whittier Trust Co. lifted its stake in Manhattan Associates by 101.4% in the 3rd quarter. Whittier Trust Co. now owns 294 shares of the software maker’s stock valued at $39,000 after purchasing an additional 148 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Manhattan Associates in the 2nd quarter valued at approximately $36,000. Harbor Investment Advisory LLC lifted its stake in Manhattan Associates by 36.0% in the 3rd quarter. Harbor Investment Advisory LLC now owns 397 shares of the software maker’s stock valued at $53,000 after purchasing an additional 105 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Manhattan Associates by 56.8% in the 4th quarter. Fifth Third Bancorp now owns 464 shares of the software maker’s stock valued at $56,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 96.92% of the company’s stock.

Manhattan Associates Stock Performance

MANH stock opened at $165.68 on Friday. The company has a fifty day moving average price of $149.81 and a 200-day moving average price of $133.60. The company has a market capitalization of $10.28 billion, a P/E ratio of 76.00 and a beta of 1.58. Manhattan Associates, Inc. has a 52-week low of $106.02 and a 52-week high of $175.00.

Manhattan Associates (NASDAQ:MANH – Get Rating) last announced its earnings results on Thursday, February 2nd. The software maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.30. Manhattan Associates had a net margin of 16.95% and a return on equity of 67.34%. The business had revenue of $198.10 million during the quarter, compared to the consensus estimate of $182.64 million. As a group, sell-side analysts forecast that Manhattan Associates, Inc. will post 1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on MANH shares. StockNews.com assumed coverage on shares of Manhattan Associates in a research note on Thursday, March 16th. They issued a “buy” rating for the company. DA Davidson raised their price target on shares of Manhattan Associates from $145.00 to $160.00 in a research note on Wednesday. Robert W. Baird raised their price target on shares of Manhattan Associates from $168.00 to $184.00 in a research note on Wednesday. Finally, Rosenblatt Securities raised their price target on shares of Manhattan Associates from $150.00 to $160.00 in a research note on Wednesday.

Insider Buying and Selling

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

About Manhattan Associates

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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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