Trust Point Inc. Invests $290,000 in Manhattan Associates, Inc. (NASDAQ:MANH)

Trust Point Inc. bought a new position in Manhattan Associates, Inc. (NASDAQ:MANH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,347 shares of the software maker’s stock, valued at approximately $290,000.

A number of other large investors have also added to or reduced their stakes in MANH. Teachers Retirement System of The State of Kentucky grew its position in shares of Manhattan Associates by 59.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 21,612 shares of the software maker’s stock worth $4,271,000 after buying an additional 8,094 shares during the period. Highland Capital Management LLC bought a new stake in shares of Manhattan Associates during the 4th quarter worth $1,142,000. Redhawk Wealth Advisors Inc. bought a new stake in shares of Manhattan Associates during the 4th quarter worth $1,050,000. Zions Bancorporation N.A. raised its stake in shares of Manhattan Associates by 6.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 8,418 shares of the software maker’s stock worth $1,664,000 after purchasing an additional 489 shares during the period. Finally, Nordea Investment Management AB bought a new stake in Manhattan Associates in the 3rd quarter valued at about $842,000. Institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MANH shares. Raymond James lifted their target price on Manhattan Associates from $214.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Truist Financial lifted their target price on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Citigroup started coverage on Manhattan Associates in a report on Wednesday, March 13th. They set a “neutral” rating and a $260.00 target price for the company. Rosenblatt Securities boosted their price objective on Manhattan Associates from $215.00 to $225.00 and gave the stock a “neutral” rating in a report on Wednesday, January 31st. Finally, StockNews.com raised Manhattan Associates from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average target price of $231.29.

Insider Activity at Manhattan Associates

In related news, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the transaction, the chief executive officer now owns 242,153 shares in the company, valued at $59,988,562.69. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $248.84, for a total transaction of $169,211.20. Following the completion of the transaction, the executive vice president now owns 57,093 shares in the company, valued at $14,207,022.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total value of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $243.51 on Friday. The business has a 50 day moving average of $248.32 and a 200 day moving average of $223.82. The company has a market capitalization of $14.99 billion, a price-to-earnings ratio of 86.35 and a beta of 1.44. Manhattan Associates, Inc. has a 1-year low of $150.91 and a 1-year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released its earnings results on Tuesday, January 30th. The software maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.23. The company had revenue of $238.26 million during the quarter, compared to the consensus estimate of $223.99 million. Manhattan Associates had a return on equity of 84.08% and a net margin of 19.01%. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 2.78 EPS for the current year.

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 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.