Meeder Asset Management Inc. Takes $894,000 Position in Manhattan Associates, Inc. $MANH

Meeder Asset Management Inc. acquired a new stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,417 shares of the software maker’s stock, valued at approximately $894,000.

A number of other large investors also recently bought and sold shares of MANH. Caitong International Asset Management Co. Ltd boosted its position in Manhattan Associates by 448.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 137 shares of the software maker’s stock valued at $28,000 after acquiring an additional 112 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Manhattan Associates by 508.9% in the 2nd quarter. Versant Capital Management Inc now owns 274 shares of the software maker’s stock worth $38,000 after acquiring an additional 229 shares in the last quarter. BNP Paribas purchased a new stake in shares of Manhattan Associates during the 4th quarter worth $39,000. TD Private Client Wealth LLC lifted its stake in shares of Manhattan Associates by 83.8% during the 4th quarter. TD Private Client Wealth LLC now owns 239 shares of the software maker’s stock worth $41,000 after purchasing an additional 109 shares during the last quarter. Finally, Leonteq Securities AG bought a new stake in Manhattan Associates during the fourth quarter valued at about $44,000. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In other news, CEO Eric Andrew Clark sold 3,000 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the sale, the chief executive officer owned 89,638 shares in the company, valued at $17,726,810.88. This represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James Stewart Gantt sold 5,139 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares in the company, valued at approximately $10,886,328.28. The trade was a 8.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,139 shares of company stock valued at $1,744,879 over the last three months. 0.84% of the stock is currently owned by insiders.

Manhattan Associates Price Performance

NASDAQ MANH opened at $198.38 on Wednesday. The stock’s fifty day moving average price is $161.71 and its 200 day moving average price is $147.22. The company has a market cap of $11.57 billion, a price-to-earnings ratio of 56.84 and a beta of 0.93. Manhattan Associates, Inc. has a 1 year low of $119.06 and a 1 year high of $220.59.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.07. Manhattan Associates had a return on equity of 86.72% and a net margin of 18.67%.The business had revenue of $297.79 million for the quarter, compared to analyst estimates of $289.03 million. During the same period in the prior year, the company earned $1.31 earnings per share. The company’s revenue was up 9.3% on a year-over-year basis. Research analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

MANH has been the topic of several analyst reports. DA Davidson lifted their target price on Manhattan Associates from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded shares of Manhattan Associates from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 14th. Citigroup lifted their price objective on shares of Manhattan Associates from $177.00 to $193.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley set a $180.00 target price on shares of Manhattan Associates in a research report on Wednesday, July 29th. Eight investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.20.

About Manhattan Associates

Manhattan Associates, Inc (NASDAQ: MANH) is a provider of supply chain and omnichannel commerce software solutions designed to optimize the flow of goods, information and funds across enterprise operations. Its flagship offerings include warehouse management, transportation management, order management and omnichannel fulfillment applications. These solutions are delivered through a cloud-native platform called Manhattan Active, which enables retailers, manufacturers, carriers and third-party logistics providers to orchestrate inventory, manage distribution and improve customer service in real time.

Key product areas include Manhattan Active Warehouse Management, which automates and optimizes warehouse operations from receiving through shipping; Manhattan Active Transportation Management, supporting carrier selection, routing and freight payment; and Manhattan Active Omni, which unifies order capture, inventory visibility and fulfillment across stores, distribution centers and e-commerce channels.