21,095 Shares in Manhattan Associates, Inc. $MANH Bought by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 21,095 shares of the software maker’s stock, valued at approximately $4,192,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Allworth Financial LP grew its position in shares of Manhattan Associates by 3.1% during the 2nd quarter. Allworth Financial LP now owns 2,587 shares of the software maker’s stock worth $360,000 after buying an additional 77 shares during the period. D.A. Davidson & CO. increased its stake in shares of Manhattan Associates by 6.5% in the 3rd quarter. D.A. Davidson & CO. now owns 1,728 shares of the software maker’s stock valued at $343,000 after acquiring an additional 106 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its position in shares of Manhattan Associates by 7.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,772 shares of the software maker’s stock valued at $366,000 after acquiring an additional 122 shares during the period. Motley Fool Asset Management LLC lifted its position in shares of Manhattan Associates by 8.6% during the 3rd quarter. Motley Fool Asset Management LLC now owns 1,953 shares of the software maker’s stock valued at $388,000 after acquiring an additional 155 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of Manhattan Associates by 21.6% during the 1st quarter. Parallel Advisors LLC now owns 907 shares of the software maker’s stock valued at $121,000 after acquiring an additional 161 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on MANH shares. Morgan Stanley upgraded shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $180.00 to $250.00 in a report on Monday, October 12th. Robert W. Baird lifted their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research note on Wednesday, August 26th. Truist Financial reiterated a “buy” rating and set a $305.00 price objective (up from $240.00) on shares of Manhattan Associates in a report on Wednesday, October 28th. Weiss Ratings raised shares of Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Finally, DA Davidson raised their target price on Manhattan Associates from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $261.11.

Insiders Place Their Bets

In other Manhattan Associates news, Director Linda Hollembaek sold 1,315 shares of the company’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $250.00, for a total transaction of $328,750.00. Following the transaction, the director owned 10,953 shares in the company, valued at approximately $2,738,250. This represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

Manhattan Associates Stock Up 0.5%

Shares of NASDAQ:MANH opened at $258.86 on Thursday. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $263.47. The stock’s 50 day moving average is $222.62 and its 200-day moving average is $170.04. The firm has a market capitalization of $15.03 billion, a price-to-earnings ratio of 72.51 and a beta of 0.85.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.09. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The business had revenue of $306.19 million during the quarter, compared to the consensus estimate of $297.01 million. During the same quarter last year, the firm posted $1.36 EPS. Manhattan Associates’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts anticipate that Manhattan Associates, Inc. will post 3.88 earnings per share for the current fiscal year.

About Manhattan Associates

Manhattan Associates (NASDAQ: MANH) develops software and provides services that help businesses manage supply chains, inventory and commerce operations. Its solutions support activities such as warehouse and transportation management, order fulfillment, labor management and coordination of sales across online and physical channels. The company’s product portfolio includes Manhattan Active, a cloud-native platform designed to connect supply chain and omnichannel commerce functions. Manhattan Associates serves organizations across industries including retail, manufacturing, wholesale distribution and consumer goods, with customers and operations in markets around the world.