Marietta Investment Partners LLC Has $6.09 Million Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Marietta Investment Partners LLC reduced its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,702 shares of the software maker’s stock after selling 250 shares during the period. Manhattan Associates accounts for about 1.3% of Marietta Investment Partners LLC’s portfolio, making the stock its 27th largest holding. Marietta Investment Partners LLC’s holdings in Manhattan Associates were worth $6,093,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MANH. Tobam acquired a new position in shares of Manhattan Associates during the 1st quarter worth about $25,000. Innealta Capital LLC acquired a new position in shares of Manhattan Associates during the 2nd quarter worth about $26,000. Benjamin Edwards Inc. acquired a new position in shares of Manhattan Associates during the 1st quarter worth about $27,000. International Assets Investment Management LLC acquired a new position in shares of Manhattan Associates during the 2nd quarter worth about $27,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Manhattan Associates during the 1st quarter worth about $31,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Shares of NASDAQ MANH opened at $275.94 on Monday. The stock has a market capitalization of $16.99 billion, a PE ratio of 90.18 and a beta of 1.50. The business has a fifty day moving average price of $252.97 and a two-hundred day moving average price of $240.34. 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 announced its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.22. The firm had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.72% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Citigroup boosted their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. DA Davidson raised their price objective on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Loop Capital lifted their price target on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $260.29.

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.