Manhattan Associates, Inc. (NASDAQ:MANH) Holdings Lifted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 39.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,872 shares of the software maker’s stock after purchasing an additional 3,925 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Manhattan Associates were worth $3,422,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Tobam bought a new position in shares of Manhattan Associates in the first quarter valued at approximately $25,000. Innealta Capital LLC bought a new position in shares of Manhattan Associates in the second quarter valued at approximately $26,000. Benjamin Edwards Inc. bought a new position in shares of Manhattan Associates in the first quarter valued at approximately $27,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates in the second quarter valued at approximately $27,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of Manhattan Associates in the first quarter valued at approximately $31,000. Institutional investors own 98.45% of the company’s stock.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the firm’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 transaction, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Stock Up 2.5 %

Shares of MANH opened at $270.40 on Tuesday. The company’s fifty day moving average is $250.51 and its 200-day moving average is $239.83. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $270.58. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 88.37 and a beta of 1.50.

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

Analyst Ratings Changes

MANH has been the subject of several recent analyst reports. 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. Citigroup raised their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. DA Davidson raised their target price 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. Finally, StockNews.com cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a 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, the stock has an average rating of “Moderate Buy” and a consensus 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.