OceanIQ Capital LLC Purchases New Shares in Manhattan Associates, Inc. $MANH

OceanIQ Capital LLC purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, Holdings Channel.com reports. The firm purchased 3,026 shares of the software maker’s stock, valued at approximately $421,000.

A number of other hedge funds also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Manhattan Associates by 448.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock worth $28,000 after buying an additional 112 shares during the period. Versant Capital Management Inc raised its holdings in shares of Manhattan Associates by 508.9% during the second quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock valued at $38,000 after acquiring an additional 229 shares during the period. BNP Paribas purchased a new stake in shares of Manhattan Associates in the 4th quarter valued at approximately $39,000. TD Private Client Wealth LLC lifted its holdings in shares of Manhattan Associates by 83.8% in the fourth quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock valued at $41,000 after purchasing an additional 109 shares in the last quarter. Finally, Leonteq Securities AG purchased a new stake in Manhattan Associates in the 4th quarter worth about $44,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Manhattan Associates

In other news, EVP James Gantt sold 5,139 shares of the stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the transaction, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric Clark sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,139 shares of company stock valued at $1,744,879 in the last ninety days. Insiders own 0.84% of the company’s stock.

Manhattan Associates Trading Down 3.9%

Manhattan Associates stock opened at $213.77 on Friday. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $227.03. The firm’s fifty day simple moving average is $182.70 and its 200-day simple moving average is $153.74. The company has a market capitalization of $12.46 billion, a P/E ratio of 61.25 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The firm had revenue of $297.79 million during the quarter, compared to analysts’ expectations of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. Manhattan Associates’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. On average, equities research analysts predict that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Analysts Set New Price Targets

MANH has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 14th. Barclays dropped their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Wall Street Zen cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Morgan Stanley set a $180.00 target price on Manhattan Associates in a research report on Wednesday, July 29th. Finally, Robert W. Baird raised their price target on Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $213.40.

Manhattan Associates Company Profile

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.