Manhattan Associates, Inc. (NASDAQ:MANH) Shares Purchased by Dock Street Asset Management Inc.

Dock Street Asset Management Inc. increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 96.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 67,894 shares of the software maker’s stock after purchasing an additional 33,282 shares during the period. Manhattan Associates accounts for about 2.6% of Dock Street Asset Management Inc.’s holdings, making the stock its 16th biggest holding. Dock Street Asset Management Inc. owned approximately 0.11% of Manhattan Associates worth $19,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MANH. M&G Plc acquired a new stake in shares of Manhattan Associates during the first quarter valued at about $77,433,000. Fiera Capital Corp acquired a new stake in shares of Manhattan Associates during the second quarter valued at about $44,705,000. Squarepoint Ops LLC boosted its stake in shares of Manhattan Associates by 448.9% in the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after purchasing an additional 131,381 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Manhattan Associates by 173.2% in the first quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock valued at $40,893,000 after purchasing an additional 103,645 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after purchasing an additional 94,283 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Up 0.1 %

MANH stock traded up $0.29 on Tuesday, hitting $295.83. The company’s stock had a trading volume of 208,688 shares, compared to its average volume of 408,740. The firm has a 50 day moving average of $272.92 and a two-hundred day moving average of $246.07. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $307.50. The stock has a market cap of $18.21 billion, a price-to-earnings ratio of 96.08 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 EPS for the quarter, beating the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the prior year, the firm earned $0.63 EPS. Manhattan Associates’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, equities analysts forecast that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on MANH shares. Truist Financial raised their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Loop Capital raised their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, DA Davidson lifted their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Manhattan Associates presently has a consensus rating of “Moderate Buy” and an average price target of $275.75.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.