Manhattan Associates, Inc. (NASDAQ:MANH) Shares Bought by Freedom Investment Management Inc.

Freedom Investment Management Inc. lifted its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,203 shares of the software maker’s stock after buying an additional 68 shares during the quarter. Freedom Investment Management Inc.’s holdings in Manhattan Associates were worth $620,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock worth $334,000 after acquiring an additional 382 shares during the last quarter. Boston Trust Walden Corp increased its position in Manhattan Associates by 3.3% during the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock worth $27,022,000 after purchasing an additional 3,525 shares in the last quarter. Mediolanum International Funds Ltd raised its stake in Manhattan Associates by 602.0% in the 3rd quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock valued at $5,607,000 after purchasing an additional 17,187 shares during the last quarter. Chartwell Investment Partners LLC lifted its holdings in Manhattan Associates by 31.1% in the 3rd quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after purchasing an additional 5,119 shares in the last quarter. Finally, M&G Plc boosted its stake in shares of Manhattan Associates by 2.1% during the 2nd quarter. M&G Plc now owns 316,243 shares of the software maker’s stock worth $78,112,000 after purchasing an additional 6,511 shares during the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MANH. Robert W. Baird upped their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. DA Davidson raised their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Piper Sandler began coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target on the stock. Finally, Loop Capital upped their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $290.78.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $285.44 on Friday. The firm has a market capitalization of $17.43 billion, a price-to-earnings ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The company’s 50 day moving average price is $282.27 and its 200 day moving average price is $256.35.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. Sell-side analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS for the current fiscal year.

Manhattan Associates Profile

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.