2,651 Shares in Manhattan Associates, Inc. (NASDAQ:MANH) Purchased by Bessemer Securities LLC

Bessemer Securities LLC acquired a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) during the 2nd quarter, HoldingsChannel reports. The firm acquired 2,651 shares of the software maker’s stock, valued at approximately $530,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MANH. Private Advisor Group LLC raised its stake in Manhattan Associates by 19.6% during the first quarter. Private Advisor Group LLC now owns 1,911 shares of the software maker’s stock worth $265,000 after acquiring an additional 313 shares during the period. PNC Financial Services Group Inc. raised its stake in Manhattan Associates by 7.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,518 shares of the software maker’s stock worth $349,000 after acquiring an additional 174 shares during the period. Great West Life Assurance Co. Can raised its stake in Manhattan Associates by 8.2% during the first quarter. Great West Life Assurance Co. Can now owns 34,926 shares of the software maker’s stock worth $4,978,000 after acquiring an additional 2,644 shares during the period. Raymond James Trust N.A. raised its stake in Manhattan Associates by 6.2% during the first quarter. Raymond James Trust N.A. now owns 2,841 shares of the software maker’s stock worth $394,000 after acquiring an additional 166 shares during the period. Finally, Aviva PLC raised its stake in Manhattan Associates by 6.1% during the first quarter. Aviva PLC now owns 16,701 shares of the software maker’s stock worth $2,317,000 after acquiring an additional 965 shares during the period. Institutional investors and hedge funds own 97.85% of the company’s stock.

Insider Buying and Selling

In related news, Director John J. Huntz, Jr. sold 11,815 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $202.95, for a total transaction of $2,397,854.25. Following the completion of the sale, the director now directly owns 53,096 shares in the company, valued at $10,775,833.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP James Stewart Gantt sold 3,042 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $215.50, for a total value of $655,551.00. Following the completion of the transaction, the executive vice president now owns 51,609 shares of the company’s stock, valued at approximately $11,121,739.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Huntz, Jr. sold 11,815 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $202.95, for a total transaction of $2,397,854.25. Following the completion of the transaction, the director now directly owns 53,096 shares of the company’s stock, valued at approximately $10,775,833.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,036 shares of company stock worth $3,493,302. Corporate insiders own 0.85% of the company’s stock.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $222.42 on Tuesday. The firm has a 50 day simple moving average of $202.45 and a 200-day simple moving average of $193.79. The stock has a market capitalization of $13.69 billion, a PE ratio of 84.25 and a beta of 1.51. Manhattan Associates, Inc. has a 12-month low of $113.43 and a 12-month high of $224.65.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 24th. The software maker reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.26. The business had revenue of $238.44 million during the quarter, compared to analysts’ expectations of $226.33 million. Manhattan Associates had a net margin of 18.65% and a return on equity of 84.06%. On average, analysts forecast that Manhattan Associates, Inc. will post 2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MANH shares. StockNews.com began coverage on shares of Manhattan Associates in a research note on Thursday, October 5th. They set a “buy” rating on the stock. DA Davidson raised their price target on shares of Manhattan Associates from $160.00 to $175.00 in a research note on Wednesday, July 26th. Loop Capital raised their price target on shares of Manhattan Associates from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, September 14th. Raymond James raised their price target on shares of Manhattan Associates from $165.00 to $214.00 and gave the company an “outperform” rating in a research note on Wednesday, July 26th. Finally, Rosenblatt Securities raised their price target on shares of Manhattan Associates from $196.00 to $200.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $211.33.

About Manhattan Associates

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Manhattan SCALE, a portfolio of logistics execution solutions that provide trading partner management, yard management, optimization, warehouse management, and transportation execution services; and Manhattan Active, a set of enterprise and omnichannel solution, which include enterprise solutions and omnichannel solutions for store.