Townsquare Capital LLC Acquires 265 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Townsquare Capital LLC lifted its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 16.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,901 shares of the software maker’s stock after acquiring an additional 265 shares during the quarter. Townsquare Capital LLC’s holdings in Manhattan Associates were worth $535,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new position in Manhattan Associates in the 2nd quarter worth $26,000. International Assets Investment Management LLC bought a new position in Manhattan Associates in the second quarter worth about $27,000. DT Investment Partners LLC purchased a new stake in Manhattan Associates in the second quarter worth about $31,000. Ashton Thomas Private Wealth LLC bought a new stake in Manhattan Associates during the 2nd quarter valued at approximately $31,000. Finally, Capital Performance Advisors LLP purchased a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $34,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Up 2.1 %

Shares of MANH opened at $303.33 on Thursday. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50. The company has a market cap of $18.53 billion, a price-to-earnings ratio of 84.40 and a beta of 1.50. The business’s fifty day simple moving average is $282.79 and its two-hundred day simple moving average is $258.27.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the firm posted $0.79 EPS. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts forecast that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MANH shares. Robert W. Baird lifted their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Citigroup increased their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Truist Financial boosted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Raymond James raised their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Loop Capital boosted their price target 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 equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $290.78.

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 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.