HM Payson & Co. Grows Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

HM Payson & Co. grew its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 51.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 786 shares of the software maker’s stock after buying an additional 266 shares during the quarter. HM Payson & Co.’s holdings in Manhattan Associates were worth $197,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Manhattan Associates by 0.9% in the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after buying an additional 58,905 shares during the period. Franklin Resources Inc. lifted its stake in Manhattan Associates by 16.8% in the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after purchasing an additional 125,541 shares in the last quarter. Norges Bank purchased a new stake in shares of Manhattan Associates during the 4th quarter valued at about $146,984,000. TD Asset Management Inc raised its position in shares of Manhattan Associates by 10.5% during the 1st quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after buying an additional 57,859 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Manhattan Associates by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after purchasing an additional 1,757 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ:MANH traded down $1.82 during mid-day trading on Monday, hitting $242.11. 255,219 shares of the company’s stock traded hands, compared to its average volume of 426,381. The company has a market cap of $14.83 billion, a PE ratio of 78.47 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $266.94. The firm’s 50 day simple moving average is $235.91 and its 200 day simple moving average is $236.27.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.22. The business had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. On average, research analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MANH. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday. Loop Capital raised their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday, April 24th. Redburn Atlantic initiated coverage on shares of Manhattan Associates in a research report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price on the stock. Finally, William Blair reissued a “market perform” rating on shares of Manhattan Associates in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $257.43.

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.