nVerses Capital LLC Increases Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

nVerses Capital LLC increased its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 17.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,300 shares of the software maker’s stock after purchasing an additional 500 shares during the quarter. nVerses Capital LLC’s holdings in Manhattan Associates were worth $929,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MANH. M&G Plc purchased a new position in shares of Manhattan Associates in the 1st quarter valued at about $77,433,000. Fiera Capital Corp acquired a new stake in Manhattan Associates in the 2nd quarter valued at about $44,705,000. Squarepoint Ops LLC grew its stake in Manhattan Associates by 448.9% in the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after acquiring an additional 131,381 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Manhattan Associates by 173.2% in the first quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock worth $40,893,000 after acquiring an additional 103,645 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Manhattan Associates by 27.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker’s stock worth $94,898,000 after acquiring an additional 82,420 shares during 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 related news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on MANH shares. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Truist Financial lifted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Loop Capital lifted their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, DA Davidson lifted their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus target price of $271.71.

Manhattan Associates Price Performance

NASDAQ MANH traded up $0.43 on Thursday, hitting $303.79. 56,842 shares of the company were exchanged, compared to its average volume of 408,054. The company’s 50 day moving average price is $269.82 and its 200-day moving average price is $244.88. The firm has a market capitalization of $18.70 billion, a P/E ratio of 99.14 and a beta of 1.50. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data 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. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The firm had revenue of $265.30 million for the quarter, compared to the consensus estimate of $255.83 million. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

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.