Ensign Peak Advisors Inc Lowers Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Ensign Peak Advisors Inc reduced its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,205 shares of the software maker’s stock after selling 1,985 shares during the period. Ensign Peak Advisors Inc owned approximately 0.08% of Manhattan Associates worth $12,878,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MANH. Vanguard Group Inc. grew its position in Manhattan Associates by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock worth $1,669,365,000 after buying an additional 58,905 shares in the last quarter. TD Asset Management Inc increased its position in shares of Manhattan Associates by 10.5% in the first quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock worth $151,931,000 after purchasing an additional 57,859 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Manhattan Associates by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker’s stock valued at $149,023,000 after purchasing an additional 2,156 shares in the last quarter. Bessemer Group Inc. lifted its position in Manhattan Associates by 0.3% during the first quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Manhattan Associates by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 512,603 shares of the software maker’s stock worth $128,269,000 after buying an additional 10,053 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Buying and Selling

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the company’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by insiders.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $281.28 on Tuesday. The company has a market capitalization of $17.32 billion, a P/E ratio of 91.92 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 $282.52. The stock has a 50 day moving average price of $253.77 and a two-hundred day moving average price of $240.45.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results 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. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The business had revenue of $265.30 million during the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter in the prior year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts predict that Manhattan Associates, Inc. will post 3.01 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MANH. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Loop Capital upped their price objective on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Citigroup raised their price objective on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Finally, DA Davidson upped their target price on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.