Meeder Asset Management Inc. Invests $894,000 in Manhattan Associates, Inc. $MANH

Meeder Asset Management Inc. purchased a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, Holdings Channel.com reports. The fund purchased 6,417 shares of the software maker’s stock, valued at approximately $894,000.

Several other hedge funds have also modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its position in shares of Manhattan Associates by 448.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after acquiring an additional 112 shares during the period. Versant Capital Management Inc raised its holdings in Manhattan Associates by 508.9% in the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after purchasing an additional 229 shares during the period. BNP Paribas purchased a new position in Manhattan Associates during the fourth quarter worth approximately $39,000. TD Private Client Wealth LLC grew its holdings in 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 during the period. Finally, Leonteq Securities AG purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $44,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $195.53, for a total value of $1,004,828.67. Following the completion of the sale, the executive vice president owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eric Andrew Clark sold 3,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $197.76, for a total value of $593,280.00. Following the transaction, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 9,139 shares of company stock valued at $1,744,879 over the last 90 days. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MANH shares. Robert W. Baird upped their target price on Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 29th. Stifel Nicolaus lifted their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, July 29th. Barclays reduced their price target on shares of Manhattan Associates from $239.00 to $201.00 and set an “overweight” rating for the company in a research report on Friday, May 29th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, DA Davidson lifted their price objective on Manhattan Associates from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $209.20.

Manhattan Associates Trading Up 1.0%

NASDAQ:MANH opened at $198.38 on Wednesday. The company’s 50-day moving average price is $161.71 and its 200-day moving average price is $147.22. The company has a market cap of $11.57 billion, a P/E ratio of 56.84 and a beta of 0.93. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $220.59.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.07. The company 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 was up 9.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 EPS. On average, analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

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.