Accurate Wealth Management LLC Raises Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Accurate Wealth Management LLC boosted its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 35.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,873 shares of the software maker’s stock after buying an additional 1,019 shares during the period. Accurate Wealth Management LLC’s holdings in Manhattan Associates were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates during the second quarter valued at about $31,000. Capital Performance Advisors LLP purchased a new position in shares of Manhattan Associates in the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC purchased a new position in shares of Manhattan Associates in the 3rd quarter worth approximately $42,000. Carolina Wealth Advisors LLC bought a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $50,000. Finally, Brooklyn Investment Group purchased a new stake in Manhattan Associates during the third quarter valued at approximately $58,000. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on MANH shares. DA Davidson increased their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Truist Financial raised their price target on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday. Raymond James lifted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Citigroup upped their price target on shares of Manhattan Associates from $287.00 to $306.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average target price of $292.89.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $271.00 on Wednesday. The firm’s fifty day moving average is $282.66 and its two-hundred day moving average is $269.51. The firm has a market cap of $16.55 billion, a price-to-earnings ratio of 76.99 and a beta of 1.52. Manhattan Associates, Inc. has a one year low of $205.12 and a one year high of $312.60.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 earnings per share. As a group, equities research analysts predict that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the sale, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. This trade represents a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares of the company’s stock, valued at $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

About Manhattan Associates

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.