Carolina Wealth Advisors LLC Buys Shares of 177 Manhattan Associates, Inc. (NASDAQ:MANH)

Carolina Wealth Advisors LLC bought a new position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 177 shares of the software maker’s stock, valued at approximately $50,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wealth Effects LLC increased its holdings in Manhattan Associates by 20.8% during the third quarter. Wealth Effects LLC now owns 1,305 shares of the software maker’s stock worth $367,000 after buying an additional 225 shares during the last quarter. Crew Capital Management Ltd. raised its stake in Manhattan Associates by 19.4% in the third quarter. Crew Capital Management Ltd. now owns 3,972 shares of the software maker’s stock valued at $1,118,000 after buying an additional 644 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Manhattan Associates by 118.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock valued at $48,860,000 after buying an additional 94,283 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Manhattan Associates by 153.7% during the 3rd quarter. Blue Trust Inc. now owns 1,408 shares of the software maker’s stock worth $396,000 after acquiring an additional 853 shares during the last quarter. Finally, Accurate Wealth Management LLC lifted its holdings in Manhattan Associates by 60.7% during the 3rd quarter. Accurate Wealth Management LLC now owns 2,854 shares of the software maker’s stock valued at $860,000 after purchasing an additional 1,078 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

MANH has been the subject of a number of research analyst reports. Truist Financial boosted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Citigroup boosted their price target on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Loop Capital upped their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. DA Davidson boosted their price target on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Finally, StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.71.

Manhattan Associates Stock Performance

Shares of Manhattan Associates stock traded down $5.67 on Monday, hitting $292.61. The stock had a trading volume of 300,927 shares, compared to its average volume of 408,573. The stock has a 50 day moving average of $271.95 and a 200 day moving average of $245.66. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $307.50. The firm has a market capitalization of $18.02 billion, a P/E ratio of 97.48 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue was up 14.8% on a year-over-year basis. Equities analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now directly owns 46,287 shares in the company, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Company 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.