Penobscot Investment Management Company Inc. Takes $240,000 Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Penobscot Investment Management Company Inc. purchased a new position in Manhattan Associates, Inc. (NASDAQ:MANH) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,200 shares of the software maker’s stock, valued at approximately $240,000.

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

Insider Buying and Selling at Manhattan Associates

In other news, Director John J. Huntz, Jr. sold 11,815 shares of the firm’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $202.95, for a total value of $2,397,854.25. Following the transaction, the director now directly owns 53,096 shares in the company, valued at approximately $10,775,833.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Manhattan Associates news, Director John J. Huntz, Jr. sold 11,815 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James Stewart Gantt sold 3,042 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $215.50, for a total transaction of $655,551.00. Following the completion of the transaction, the executive vice president now directly owns 51,609 shares in the company, valued at approximately $11,121,739.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,036 shares of company stock valued at $3,493,302. Company insiders own 0.85% of the company’s stock.

Manhattan Associates Stock Performance

MANH opened at $221.33 on Thursday. Manhattan Associates, Inc. has a 1 year low of $113.43 and a 1 year high of $224.65. The company’s 50 day simple moving average is $201.22 and its 200 day simple moving average is $192.49. The stock has a market capitalization of $13.63 billion, a PE ratio of 83.84 and a beta of 1.51.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 24th. The software maker reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.26. The company had revenue of $238.44 million for the quarter, compared to analyst estimates of $226.33 million. Manhattan Associates had a net margin of 18.65% and a return on equity of 84.06%. As a group, sell-side analysts expect that Manhattan Associates, Inc. will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MANH shares. DA Davidson boosted their price target on Manhattan Associates from $160.00 to $175.00 in a report on Wednesday, July 26th. Truist Financial upped their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. StockNews.com initiated coverage on shares of Manhattan Associates in a report on Thursday, October 5th. They set a “buy” rating for the company. Raymond James upped their price objective 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, Loop Capital raised their target price on shares of Manhattan Associates from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Thursday, September 14th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus price target of $211.33.

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.