Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC decreased its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 26.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,298,163 shares of the software maker’s stock after selling 471,267 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 2.11% of Manhattan Associates worth $320,231,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. lifted its position in shares of Manhattan Associates by 43.4% during the second quarter. Ameritas Investment Partners Inc. now owns 19,496 shares of the software maker’s stock worth $4,809,000 after purchasing an additional 5,903 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its stake in Manhattan Associates by 27.2% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker’s stock worth $94,898,000 after buying an additional 82,420 shares during the period. Bridges Investment Management Inc. acquired a new stake in Manhattan Associates during the 2nd quarter worth approximately $430,000. Intech Investment Management LLC boosted its position in Manhattan Associates by 168.7% in the 2nd quarter. Intech Investment Management LLC now owns 48,763 shares of the software maker’s stock valued at $12,029,000 after buying an additional 30,617 shares during the period. Finally, Seven Eight Capital LP grew its stake in shares of Manhattan Associates by 59.7% in the second quarter. Seven Eight Capital LP now owns 4,581 shares of the software maker’s stock worth $1,130,000 after acquiring an additional 1,713 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates 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 sale, the executive vice president now owns 46,287 shares in the company, valued at $11,872,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MANH has been the topic of several analyst reports. DA Davidson increased their price objective on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. Citigroup lifted their price objective on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Loop Capital lifted their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $260.29.

Manhattan Associates Stock Up 0.3 %

MANH stock opened at $275.94 on Friday. The business has a 50 day moving average price of $252.97 and a 200 day moving average price of $240.53. The stock has a market cap of $16.99 billion, a price-to-earnings ratio of 90.18 and a beta of 1.50. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $278.08.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.22. The business had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.63 EPS. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

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.