Handelsinvest Investeringsforvaltning Lowers Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Handelsinvest Investeringsforvaltning cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 34.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,634 shares of the software maker’s stock after selling 848 shares during the period. Handelsinvest Investeringsforvaltning’s holdings in Manhattan Associates were worth $409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MANH. Lindbrook Capital LLC increased its holdings in shares of Manhattan Associates by 28.8% in the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock worth $44,000 after purchasing an additional 46 shares during the last quarter. UMB Bank n.a. grew its position in Manhattan Associates by 25.9% in the fourth quarter. UMB Bank n.a. now owns 282 shares of the software maker’s stock worth $61,000 after acquiring an additional 58 shares in the last quarter. Raleigh Capital Management Inc. grew its position in Manhattan Associates by 19.3% in the third quarter. Raleigh Capital Management Inc. now owns 395 shares of the software maker’s stock worth $78,000 after acquiring an additional 64 shares in the last quarter. Janiczek Wealth Management LLC boosted its position in shares of Manhattan Associates by 4.6% during the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock valued at $373,000 after buying an additional 65 shares during the period. Finally, QRG Capital Management Inc. boosted its position in shares of Manhattan Associates by 3.4% during the fourth quarter. QRG Capital Management Inc. now owns 2,424 shares of the software maker’s stock valued at $522,000 after buying an additional 80 shares during the period. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MANH has been the subject of several recent analyst reports. 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, June 28th. Redburn Atlantic initiated coverage on Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target for the company. DA Davidson boosted their price target on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 16th. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday, April 24th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Manhattan Associates has an average rating of “Moderate Buy” and an average price target of $245.13.

Manhattan Associates Trading Up 0.2 %

Shares of MANH stock opened at $246.22 on Thursday. The business’s fifty day simple moving average is $225.16 and its 200-day simple moving average is $231.60. The company has a market cap of $15.16 billion, a PE ratio of 80.46 and a beta of 1.50. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $266.94.

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

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.