Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Scientech Research LLC

Scientech Research LLC cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 58.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 829 shares of the software maker’s stock after selling 1,158 shares during the period. Scientech Research LLC’s holdings in Manhattan Associates were worth $204,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MANH. Corient Private Wealth LLC raised its holdings in Manhattan Associates by 88.7% in the 4th quarter. Corient Private Wealth LLC now owns 4,368 shares of the software maker’s stock valued at $941,000 after buying an additional 2,053 shares during the period. Stifel Financial Corp raised its stake in shares of Manhattan Associates by 4.6% in the 4th quarter. Stifel Financial Corp now owns 59,921 shares of the software maker’s stock valued at $12,902,000 after acquiring an additional 2,608 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Manhattan Associates by 101.8% in the 4th quarter. Bank of Nova Scotia now owns 2,971 shares of the software maker’s stock worth $640,000 after acquiring an additional 1,499 shares during the last quarter. KBC Group NV acquired a new position in shares of Manhattan Associates in the 4th quarter worth approximately $1,381,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Manhattan Associates by 0.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 11,772 shares of the software maker’s stock worth $2,535,000 after purchasing an additional 108 shares during the period. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MANH. Citigroup upped their price target on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. DA Davidson lifted their target price on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Loop Capital increased their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $264.57.

Manhattan Associates Stock Performance

MANH opened at $274.75 on Wednesday. The business’s 50-day simple moving average is $260.54 and its 200-day simple moving average is $241.66. The company has a market cap of $16.92 billion, a P/E ratio of 89.79 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $287.63.

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