Mackenzie Financial Corp Purchases 1,676 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Mackenzie Financial Corp grew its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,860 shares of the software maker’s stock after acquiring an additional 1,676 shares during the period. Mackenzie Financial Corp owned about 0.06% of Manhattan Associates worth $8,846,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Tobam bought a new position in Manhattan Associates during the 1st quarter valued at approximately $25,000. Innealta Capital LLC purchased a new position in shares of Manhattan Associates during the second quarter valued at approximately $26,000. Benjamin Edwards Inc. bought a new position in shares of Manhattan Associates during the first quarter valued at approximately $27,000. International Assets Investment Management LLC purchased a new stake in Manhattan Associates in the second quarter worth $27,000. Finally, Contravisory Investment Management Inc. bought a new stake in Manhattan Associates in the first quarter valued at $31,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Stock Up 0.4 %

Manhattan Associates stock opened at $281.38 on Tuesday. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $287.63. The company has a market capitalization of $17.32 billion, a P/E ratio of 91.95 and a beta of 1.50. The stock’s 50 day moving average is $259.56 and its 200 day moving average is $241.47.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, July 23rd. The software maker reported $1.18 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 analysts’ expectations of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 earnings per share. As a group, equities analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred 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 owns 46,287 shares in the company, valued at $11,872,615.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.72% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MANH. Citigroup upped their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson lifted their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Loop Capital increased their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.57.

Manhattan Associates Company 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.