Manhattan Associates, Inc. $MANH Stock: Nisa Investment Advisors LLC Boosts Position

Nisa Investment Advisors LLC lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 133.3% in the 3rd quarter, Holdings Channel reports. The fund owned 16,483 shares of the software maker’s stock after acquiring an additional 9,417 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Manhattan Associates were worth $3,275,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MANH. Bank of America Corp DE bought a new stake in shares of Manhattan Associates during the second quarter valued at approximately $75,136,000. William Blair Investment Management LLC purchased a new stake in Manhattan Associates in the second quarter worth $94,049,000. BlackRock Inc. purchased a new stake in Manhattan Associates in the second quarter worth $944,285,000. Engineers Gate Manager LP raised its holdings in Manhattan Associates by 1,309.1% in the second quarter. Engineers Gate Manager LP now owns 132,846 shares of the software maker’s stock worth $18,499,000 after purchasing an additional 123,418 shares in the last quarter. Finally, WCM Investment Management LLC bought a new position in Manhattan Associates in the first quarter worth $980,000. Institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MANH. Stifel Nicolaus raised their price objective on Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Robert W. Baird increased their price target on shares of Manhattan Associates from $218.00 to $260.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 26th. Morgan Stanley raised shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $180.00 to $250.00 in a research report on Monday, October 12th. Barclays lifted their price target on shares of Manhattan Associates from $201.00 to $239.00 and gave the company an “overweight” rating in a research report on Tuesday, September 8th. Finally, Citigroup boosted their price objective on shares of Manhattan Associates from $203.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $229.33.

Insider Activity

In related news, EVP James Gantt sold 5,139 shares of the stock in a transaction dated 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 sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at approximately $10,886,328.28. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Clark sold 3,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares in the company, valued at $17,726,810.88. This trade represents a 3.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by insiders.

Manhattan Associates Stock Down 1.6%

MANH stock opened at $238.19 on Friday. The business has a 50 day moving average of $213.12 and a 200 day moving average of $171.81. The firm has a market cap of $13.89 billion, a PE ratio of 68.25 and a beta of 0.95. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $242.63.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 28th. The software maker reported $1.39 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $289.03 million. During the same period in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, research analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Manhattan Associates Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.