Toronto Dominion Bank Buys 1,850 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Toronto Dominion Bank boosted its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 30.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,842 shares of the software maker’s stock after purchasing an additional 1,850 shares during the quarter. Toronto Dominion Bank’s holdings in Manhattan Associates were worth $2,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Manhattan Associates by 15.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,080 shares of the software maker’s stock valued at $513,000 after buying an additional 280 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in Manhattan Associates by 26.0% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,348 shares of the software maker’s stock worth $1,319,000 after purchasing an additional 1,105 shares during the last quarter. Blue Trust Inc. lifted its stake in Manhattan Associates by 238.4% during the second quarter. Blue Trust Inc. now owns 555 shares of the software maker’s stock worth $139,000 after purchasing an additional 391 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Manhattan Associates by 16.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,872 shares of the software maker’s stock worth $955,000 after purchasing an additional 560 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in shares of Manhattan Associates by 226.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 232 shares of the software maker’s stock valued at $57,000 after purchasing an additional 161 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Price Performance

Shares of NASDAQ:MANH opened at $298.17 on Monday. The stock’s 50-day moving average is $286.25 and its 200 day moving average is $262.54. The company has a market cap of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $312.60.

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Loop Capital increased their price target 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. Truist Financial boosted their price target 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. Citigroup raised their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Raymond James boosted their target price on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird raised their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target 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.