Creative Planning lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH – Free Report) by 108.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,863 shares of the software maker’s stock after buying an additional 2,008 shares during the period. Creative Planning’s holdings in Manhattan Associates were worth $772,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. SkyOak Wealth LLC bought a new position in shares of Manhattan Associates in the second quarter worth approximately $294,000. Legacy Advisors LLC lifted its position in Manhattan Associates by 4.9% during the second quarter. Legacy Advisors LLC now owns 8,361 shares of the software maker’s stock valued at $1,671,000 after purchasing an additional 394 shares during the period. Louisiana State Employees Retirement System lifted its position in Manhattan Associates by 9.0% during the second quarter. Louisiana State Employees Retirement System now owns 18,100 shares of the software maker’s stock valued at $3,618,000 after purchasing an additional 1,500 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Manhattan Associates by 1,598.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 74,215 shares of the software maker’s stock valued at $14,834,000 after purchasing an additional 69,845 shares during the period. Finally, New Mexico Educational Retirement Board lifted its position in Manhattan Associates by 13.3% during the second quarter. New Mexico Educational Retirement Board now owns 12,800 shares of the software maker’s stock valued at $2,558,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 97.85% of the company’s stock.
Insider Activity at Manhattan Associates
In related news, Director John J. Huntz, Jr. sold 11,815 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $202.95, for a total transaction of $2,397,854.25. Following the completion of the transaction, the director now directly owns 53,096 shares of the company’s stock, valued at $10,775,833.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Manhattan Associates news, Director John J. Huntz, Jr. sold 11,815 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $202.95, for a total transaction of $2,397,854.25. Following the completion of the transaction, the director now owns 53,096 shares in the company, valued at $10,775,833.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Deepak Raghavan sold 2,179 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $201.88, for a total transaction of $439,896.52. Following the transaction, the director now owns 20,551 shares of the company’s stock, valued at approximately $4,148,835.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,794 shares of company stock valued at $3,179,751. Corporate insiders own 0.85% of the company’s stock.
Manhattan Associates Price Performance
Manhattan Associates (NASDAQ:MANH – Get Free Report) last announced its quarterly earnings data on Tuesday, July 25th. The software maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.13. The firm had revenue of $231.02 million during the quarter, compared to analysts’ expectations of $216.43 million. Manhattan Associates had a net margin of 17.21% and a return on equity of 75.18%. On average, research analysts expect that Manhattan Associates, Inc. will post 2.17 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts recently weighed in on MANH shares. DA Davidson increased their price objective on shares of Manhattan Associates from $160.00 to $175.00 in a research report on Wednesday, July 26th. StockNews.com began coverage on shares of Manhattan Associates in a report on Thursday, October 5th. They set a “buy” rating for the company. Rosenblatt Securities upped their target price on shares of Manhattan Associates from $160.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Loop Capital upped their target price on shares of Manhattan Associates from $220.00 to $230.00 and gave the company a “buy” rating in a report on Thursday, September 14th. Finally, Truist Financial upped their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.67.
Read Our Latest Research Report on MANH
Manhattan Associates Company Profile
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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