Redhawk Wealth Advisors Inc. Raises Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Redhawk Wealth Advisors Inc. increased its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 8.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,075 shares of the software maker’s stock after purchasing an additional 388 shares during the period. Redhawk Wealth Advisors Inc.’s holdings in Manhattan Associates were worth $1,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. M&G Plc acquired a new position in Manhattan Associates during the first quarter worth $77,433,000. Fiera Capital Corp acquired a new stake in shares of Manhattan Associates in the second quarter valued at about $44,705,000. Squarepoint Ops LLC boosted its holdings in Manhattan Associates by 448.9% during the second quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock worth $39,629,000 after buying an additional 131,381 shares in the last quarter. Russell Investments Group Ltd. grew its position in Manhattan Associates by 173.2% during the first quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock worth $40,893,000 after buying an additional 103,645 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its holdings in 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 valued at $94,898,000 after buying an additional 82,420 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH opened at $299.50 on Monday. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $299.67. The firm’s 50 day moving average price is $266.01 and its 200 day moving average price is $243.72. The firm has a market cap of $18.44 billion, a P/E ratio of 97.88 and a beta of 1.50.

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