Seven Eight Capital LP Has $1.13 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Seven Eight Capital LP grew its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 59.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,581 shares of the software maker’s stock after buying an additional 1,713 shares during the quarter. Seven Eight Capital LP’s holdings in Manhattan Associates were worth $1,130,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Tobam acquired a new stake in Manhattan Associates in the 1st quarter valued at about $25,000. Innealta Capital LLC bought a new position in Manhattan Associates in the 2nd quarter worth approximately $26,000. Benjamin Edwards Inc. acquired a new position in Manhattan Associates during the 1st quarter worth $27,000. International Assets Investment Management LLC acquired a new stake in shares of Manhattan Associates in the 2nd quarter valued at $27,000. Finally, Contravisory Investment Management Inc. bought a new stake in shares of Manhattan Associates during the first quarter worth $31,000. 98.45% of the stock is owned by institutional investors.

Insider Transactions at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by insiders.

Manhattan Associates Trading Up 0.3 %

Shares of Manhattan Associates stock opened at $275.94 on Friday. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $278.08. The company has a market capitalization of $16.99 billion, a PE ratio of 90.18 and a beta of 1.50. The stock’s fifty day simple moving average is $252.26 and its 200 day simple moving average is $240.39.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating 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 business had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter in the previous year, the business posted $0.63 EPS. Manhattan Associates’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. DA Davidson lifted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Loop Capital increased their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Citigroup increased their price target on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $260.29.

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.