William Blair Investment Management LLC Makes New Investment in Manhattan Associates, Inc. $MANH

William Blair Investment Management LLC bought a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 675,396 shares of the software maker’s stock, valued at approximately $94,049,000. William Blair Investment Management LLC owned about 1.16% of Manhattan Associates at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC increased its position in shares of Manhattan Associates by 3.3% during the second quarter. NewEdge Advisors LLC now owns 1,852 shares of the software maker’s stock worth $366,000 after purchasing an additional 59 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Manhattan Associates by 2.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,708 shares of the software maker’s stock valued at $555,000 after purchasing an additional 69 shares in the last quarter. Covestor Ltd boosted its stake in Manhattan Associates by 12.2% during the 4th quarter. Covestor Ltd now owns 670 shares of the software maker’s stock worth $116,000 after purchasing an additional 73 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in Manhattan Associates by 3.4% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,322 shares of the software maker’s stock worth $402,000 after purchasing an additional 76 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of Manhattan Associates by 1.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,369 shares of the software maker’s stock worth $1,104,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling at Manhattan Associates

In other news, CEO Eric Andrew Clark sold 3,000 shares of the company’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 owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This represents a 3.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP James Stewart Gantt sold 5,139 shares of the stock in a transaction 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 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 9,139 shares of company stock valued at $1,744,879. 0.84% of the stock is owned by insiders.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $214.56 on Friday. The firm has a 50 day simple moving average of $165.78 and a 200-day simple moving average of $148.46. The stock has a market cap of $12.51 billion, a price-to-earnings ratio of 61.48 and a beta of 0.93. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $220.31.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, beating the consensus estimate of $1.32 by $0.07. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The firm had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same quarter in the previous year, the company earned $1.31 EPS. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MANH shares. Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a research report on Wednesday, July 29th. Robert W. Baird boosted their price target on shares of Manhattan Associates from $186.00 to $218.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 29th. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Citigroup increased their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Stifel Nicolaus raised their target price on shares of Manhattan Associates from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $209.20.

About Manhattan Associates

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.