Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Park Place Capital Corp

Park Place Capital Corp reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 51.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 234 shares of the software maker’s stock after selling 248 shares during the period. Park Place Capital Corp’s holdings in Manhattan Associates were worth $59,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of Manhattan Associates by 259.4% during the 4th quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock worth $25,000 after purchasing an additional 83 shares during the last quarter. Bear Mountain Capital Inc. acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $26,000. Contravisory Investment Management Inc. acquired a new position in Manhattan Associates in the first quarter valued at approximately $31,000. Finally, Quarry LP acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $38,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Trading Down 0.6 %

Manhattan Associates stock opened at $245.28 on Tuesday. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $266.94. The stock’s fifty day simple moving average is $224.07 and its 200-day simple moving average is $231.28. The firm has a market capitalization of $15.10 billion, a P/E ratio of 80.16 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, April 23rd. The software maker reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.23. The firm had revenue of $254.55 million during the quarter, compared to the consensus estimate of $243.32 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. Sell-side analysts predict that Manhattan Associates, Inc. will post 2.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MANH shares. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Citigroup boosted their target price on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Monday, May 27th. Redburn Atlantic assumed coverage on Manhattan Associates in a research report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price on the stock. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a research report on Wednesday, April 24th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $245.13.

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.