Harvest Fund Management Co. Ltd Boosts Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Harvest Fund Management Co. Ltd increased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 88.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,051 shares of the software maker’s stock after acquiring an additional 492 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Manhattan Associates were worth $226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MANH. Lindbrook Capital LLC raised its position in shares of Manhattan Associates by 28.8% during the 4th quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after purchasing an additional 46 shares during the period. Capital Insight Partners LLC raised its holdings in Manhattan Associates by 0.4% during the third quarter. Capital Insight Partners LLC now owns 15,161 shares of the software maker’s stock valued at $2,997,000 after acquiring an additional 57 shares during the period. Signaturefd LLC lifted its position in shares of Manhattan Associates by 4.7% in the third quarter. Signaturefd LLC now owns 1,274 shares of the software maker’s stock valued at $252,000 after acquiring an additional 57 shares in the last quarter. UMB Bank n.a. grew its position in shares of Manhattan Associates by 25.9% during the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after purchasing an additional 58 shares in the last quarter. Finally, DAVENPORT & Co LLC raised its stake in Manhattan Associates by 1.2% during the 3rd quarter. DAVENPORT & Co LLC now owns 5,220 shares of the software maker’s stock valued at $1,032,000 after purchasing an additional 60 shares during the period. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on MANH shares. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday. Truist Financial raised their target price on shares of Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Citigroup decreased their price target on shares of Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a research note on Wednesday. Raymond James raised their price objective on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, January 31st. Finally, DA Davidson upgraded Manhattan Associates from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $220.00 to $240.00 in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has an average rating of “Moderate Buy” and a consensus price target of $234.86.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 680 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the completion of the sale, the executive vice president now owns 57,093 shares in the company, valued at approximately $14,207,022.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the transaction, the executive vice president now owns 57,093 shares of the company’s stock, valued at $14,207,022.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Eddie Capel sold 10,897 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the sale, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at $59,988,562.69. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $207.35 on Thursday. Manhattan Associates, Inc. has a 1-year low of $163.43 and a 1-year high of $266.94. The business’s 50 day moving average is $245.97 and its two-hundred day moving average is $227.06. The stock has a market capitalization of $12.77 billion, a P/E ratio of 67.43 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a return on equity of 87.22% and a net margin of 19.91%. The firm had revenue of $238.26 million during the quarter, compared to analysts’ expectations of $223.99 million. As a group, equities research analysts anticipate that Manhattan Associates, Inc. will post 2.78 earnings per share for the current fiscal year.

Manhattan Associates Profile

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.