Ignite Planners LLC Invests $255,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Ignite Planners LLC acquired a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, Holdings Channel.com reports. The firm acquired 1,327 shares of the software maker’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MANH. Private Advisor Group LLC boosted its holdings 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 buying an additional 313 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings 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 buying an additional 174 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings 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 buying an additional 2,644 shares in the last quarter. Raymond James Trust N.A. boosted its holdings 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 buying an additional 166 shares in the last quarter. Finally, Aviva PLC boosted its holdings 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 buying an additional 965 shares in the last quarter. Institutional investors and hedge funds own 97.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MANH shares. Rosenblatt Securities increased their price objective on shares of Manhattan Associates from $160.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, July 26th. Loop Capital raised their price target on shares of Manhattan Associates from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, September 14th. Robert W. Baird raised their price target on shares of Manhattan Associates from $184.00 to $219.00 in a research note on Tuesday, July 18th. StockNews.com initiated coverage on shares of Manhattan Associates in a research report on Thursday, August 17th. They set a “buy” rating for the company. Finally, Raymond James raised their price objective on shares of Manhattan Associates from $165.00 to $214.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $210.67.

Manhattan Associates Price Performance

Shares of MANH opened at $201.96 on Tuesday. Manhattan Associates, Inc. has a 1-year low of $107.18 and a 1-year high of $208.31. The stock has a market cap of $12.45 billion, a PE ratio of 87.05 and a beta of 1.54. The firm has a 50-day simple moving average of $195.05 and a two-hundred day simple moving average of $177.91.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, July 25th. The software maker reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.13. The firm had revenue of $231.02 million during the quarter, compared to analysts’ expectations of $216.43 million. Manhattan Associates had a net margin of 17.21% and a return on equity of 75.18%. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 2.17 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In related news, Director John J. Huntz, Jr. sold 11,815 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $202.95, for a total value of $2,397,854.25. Following the completion of the transaction, the director now owns 53,096 shares in the company, valued at $10,775,833.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director John J. Huntz, Jr. sold 11,815 shares of Manhattan Associates stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $202.95, for a total value of $2,397,854.25. Following the completion of the transaction, the director now 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 can be accessed through this hyperlink. Also, Director Deepak Raghavan sold 2,179 shares of Manhattan Associates stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $201.88, for a total transaction of $439,896.52. Following the completion of the transaction, the director now owns 20,551 shares of the company’s stock, valued at approximately $4,148,835.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,794 shares of company stock worth $3,179,751. Corporate insiders own 0.85% of the company’s stock.

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 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.