Edgestream Partners L.P. Buys 3,905 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Edgestream Partners L.P. lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 41.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 13,302 shares of the software maker’s stock after purchasing an additional 3,905 shares during the quarter. Edgestream Partners L.P.’s holdings in Manhattan Associates were worth $3,743,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in Manhattan Associates by 7.3% during the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after buying an additional 130,817 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Manhattan Associates in the 3rd quarter worth approximately $234,249,000. Bank of New York Mellon Corp grew its position in Manhattan Associates by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock worth $149,023,000 after acquiring an additional 2,156 shares during the last quarter. RGM Capital LLC increased its holdings in Manhattan Associates by 4.1% during the 2nd quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock valued at $143,824,000 after purchasing an additional 23,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Manhattan Associates by 20.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker’s stock valued at $108,881,000 after purchasing an additional 76,378 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $285.44 on Monday. The firm’s 50 day moving average price is $282.46 and its two-hundred day moving average price is $257.13. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50. The stock has a market cap of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the prior year, the company posted $0.79 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MANH. Piper Sandler began coverage on Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. DA Davidson raised their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird upped their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Truist Financial raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Citigroup upped their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $290.78.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.72% of the stock is currently owned by corporate insiders.

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.