Raleigh Capital Management Inc. Has $142,000 Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Raleigh Capital Management Inc. grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 19.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 526 shares of the software maker’s stock after purchasing an additional 84 shares during the period. Raleigh Capital Management Inc.’s holdings in Manhattan Associates were worth $142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MANH. Massachusetts Financial Services Co. MA bought a new stake in Manhattan Associates during the third quarter worth $234,249,000. JPMorgan Chase & Co. boosted its holdings in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after acquiring an additional 687,933 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of Manhattan Associates by 448.9% in the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after acquiring an additional 131,381 shares in the last quarter. FMR LLC raised its holdings in shares of Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock valued at $539,521,000 after purchasing an additional 130,817 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Manhattan Associates by 118.8% during 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 in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Manhattan Associates Stock Performance

MANH stock opened at $284.96 on Friday. The stock has a fifty day moving average of $282.01 and a 200-day moving average of $270.90. Manhattan Associates, Inc. has a fifty-two week low of $205.12 and a fifty-two week high of $312.60. The company has a market capitalization of $17.41 billion, a price-to-earnings ratio of 80.95 and a beta of 1.52.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MANH shares. Raymond James upped their price objective on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Truist Financial boosted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. DA Davidson raised their target price on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Piper Sandler began coverage on Manhattan Associates in a research note on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $292.89.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Bruce Richards sold 4,150 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.