Xponance Inc. Buys 2,256 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Posted by Defense World Staff on Sep 25th, 2023

Xponance Inc. increased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 18.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,389 shares of the software maker’s stock after buying an additional 2,256 shares during the period. Xponance Inc.’s holdings in Manhattan Associates were worth $2,876,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MANH. ST Germain D J Co. Inc. bought a new stake in shares of Manhattan Associates during the fourth quarter worth approximately $27,000. Eagle Bay Advisors LLC bought a new stake in Manhattan Associates in the 2nd quarter valued at $36,000. Compass Wealth Management LLC acquired a new position in Manhattan Associates in the 4th quarter valued at $42,000. Raleigh Capital Management Inc. increased its position in Manhattan Associates by 36.7% during the 1st quarter. Raleigh Capital Management Inc. now owns 283 shares of the software maker’s stock worth $44,000 after buying an additional 76 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in shares of Manhattan Associates during the first quarter worth $65,000. Institutional investors and hedge funds own 97.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MANH. Truist Financial upped their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, July 26th. DA Davidson lifted their price target on shares of Manhattan Associates from $160.00 to $175.00 in a research report on Wednesday, July 26th. Loop Capital increased their price target on Manhattan Associates from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, September 14th. Robert W. Baird raised their price objective on Manhattan Associates from $184.00 to $219.00 in a research note on Tuesday, July 18th. Finally, Rosenblatt Securities increased their target price on Manhattan Associates from $160.00 to $196.00 and gave the stock a “neutral” rating in a report on Wednesday, July 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $210.67.

Get Our Latest Stock Report on Manhattan Associates

Insiders Place Their Bets

In other news, Director Linda T. Hollembaek sold 1,800 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $190.00, for a total value of $342,000.00. Following the sale, the director now directly owns 11,747 shares in the company, valued at approximately $2,231,930. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Deepak Raghavan sold 2,179 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $201.88, for a total value of $439,896.52. Following the completion of the transaction, the director now owns 20,551 shares of the company’s stock, valued at $4,148,835.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Linda T. Hollembaek sold 1,800 shares of Manhattan Associates stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $190.00, for a total transaction of $342,000.00. Following the sale, the director now owns 11,747 shares in the company, valued at $2,231,930. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,794 shares of company stock valued at $3,179,751. 0.85% of the stock is currently owned by corporate insiders.

Manhattan Associates Price Performance

Shares of MANH opened at $194.45 on Monday. The firm has a 50 day simple moving average of $194.98 and a two-hundred day simple moving average of $179.42. Manhattan Associates, Inc. has a one year low of $107.18 and a one year high of $208.31. The company has a market cap of $11.99 billion, a P/E ratio of 83.82 and a beta of 1.54.

Manhattan Associates (NASDAQ:MANH – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The software maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $216.43 million. On average, analysts expect that Manhattan Associates, Inc. will post 2.17 earnings per share for the current fiscal year.

Manhattan Associates Profile

(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.