Nomura Asset Management Co. Ltd. Acquires 300 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Nomura Asset Management Co. Ltd. raised its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 29,667 shares of the software maker’s stock after purchasing an additional 300 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Manhattan Associates were worth $8,348,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its stake in shares of Manhattan Associates by 0.6% in the 3rd quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock worth $619,918,000 after purchasing an additional 12,787 shares during the period. FMR LLC raised its position in Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after acquiring an additional 130,817 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Manhattan Associates during the 3rd quarter worth $234,249,000. Bank of New York Mellon Corp grew its position in shares of Manhattan Associates by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after acquiring an additional 2,156 shares during the period. Finally, RGM Capital LLC increased its stake in shares of Manhattan Associates by 4.1% in the 2nd quarter. RGM Capital LLC now owns 583,037 shares of the software maker’s stock worth $143,824,000 after purchasing an additional 23,000 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH opened at $309.78 on Friday. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $312.60. The stock has a market cap of $18.92 billion, a price-to-earnings ratio of 88.01 and a beta of 1.50. The stock’s 50 day moving average price is $285.94 and its 200-day moving average price is $261.51.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on MANH. DA Davidson upped their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Raymond James raised their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Robert W. Baird upped their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Loop Capital raised their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Piper Sandler initiated coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 target price for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average target price of $290.78.

Insider Buying and Selling at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James Stewart Gantt sold 3,475 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

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.