Great Lakes Advisors LLC Buys New Shares in Manhattan Associates, Inc. (NASDAQ:MANH)

Posted by on Aug 23rd, 2023

Great Lakes Advisors LLC purchased a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,677 shares of the software maker’s stock, valued at approximately $260,000.

Several other large investors have also recently added to or reduced their stakes in MANH. Raleigh Capital Management Inc. raised its stake in shares of Manhattan Associates by 97.1% in the fourth quarter. Raleigh Capital Management Inc. now owns 207 shares of the software maker’s stock valued at $25,000 after purchasing an additional 102 shares in the last quarter. ST Germain D J Co. Inc. bought a new position in shares of Manhattan Associates during the 4th quarter worth about $27,000. Belpointe Asset Management LLC acquired a new position in Manhattan Associates in the fourth quarter worth about $32,000. Eagle Bay Advisors LLC bought a new position in Manhattan Associates during the second quarter worth about $36,000. Finally, Compass Wealth Management LLC acquired a new stake in Manhattan Associates during the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 97.09% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other news, Director Linda T. Hollembaek sold 1,800 shares of Manhattan Associates stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $190.00, for a total transaction of $342,000.00. Following the completion of the sale, the director now owns 11,747 shares in the company, valued at approximately $2,231,930. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Manhattan Associates news, Director Edmond Eger sold 1,885 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $189.45, for a total transaction of $357,113.25. Following the transaction, the director now owns 12,385 shares in the company, valued at $2,346,338.25. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Linda T. Hollembaek sold 1,800 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $190.00, for a total value of $342,000.00. Following the completion of the sale, the director now directly owns 11,747 shares of the company’s stock, valued at $2,231,930. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,206 shares of company stock worth $1,685,274. Company insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Loop Capital increased their target price on Manhattan Associates from $190.00 to $205.00 in a report on Wednesday, May 24th. Rosenblatt Securities lifted their price objective on Manhattan Associates from $160.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. DA Davidson upped their target price on shares of Manhattan Associates from $160.00 to $175.00 in a report on Wednesday, July 26th. Robert W. Baird boosted their price target on shares of Manhattan Associates from $184.00 to $219.00 in a research report on Tuesday, July 18th. Finally, Truist Financial raised their price objective on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and an average price target of $206.50.

Read Our Latest Research Report on MANH

Manhattan Associates Price Performance

Shares of Manhattan Associates stock opened at $190.21 on Wednesday. The firm has a 50 day simple moving average of $192.53 and a 200 day simple moving average of $170.62. Manhattan Associates, Inc. has a fifty-two week low of $107.18 and a fifty-two week high of $208.31. The firm has a market cap of $11.73 billion, a P/E ratio of 81.99 and a beta of 1.57.

Manhattan Associates (NASDAQ:MANH – Get Free Report) last released its earnings results on Tuesday, July 25th. The software maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.13. Manhattan Associates had a return on equity of 75.18% and a net margin of 17.21%. The company had revenue of $231.02 million during the quarter, compared to the consensus estimate of $216.43 million. On average, sell-side analysts expect that Manhattan Associates, Inc. will post 2.17 EPS for the current year.

About Manhattan Associates

(Free Report)

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and omnichannel solution, which include enterprise solutions and omnichannel solutions for store.

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

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