Central Pacific Bank Trust Division Reduces Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Central Pacific Bank Trust Division decreased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 92.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 174 shares of the software maker’s stock after selling 2,004 shares during the period. Central Pacific Bank Trust Division’s holdings in Manhattan Associates were worth $49,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Tobam purchased a new stake in shares of Manhattan Associates in the first quarter valued at $25,000. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates in the second quarter valued at $26,000. Benjamin Edwards Inc. purchased a new stake in shares of Manhattan Associates in the first quarter valued at $27,000. International Assets Investment Management LLC purchased a new stake in shares of Manhattan Associates in the second quarter valued at $27,000. Finally, Contravisory Investment Management Inc. purchased a new stake in shares of Manhattan Associates in the first quarter valued at $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ:MANH traded up $5.13 during trading on Friday, hitting $282.41. The company’s stock had a trading volume of 284,020 shares, compared to its average volume of 408,703. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $287.63. The stock’s 50-day moving average price is $262.18 and its two-hundred day moving average price is $242.40. The company has a market capitalization of $17.39 billion, a PE ratio of 92.29 and a beta of 1.50.

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

Wall Street Analyst Weigh In

MANH has been the topic of a number of research analyst reports. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. DA Davidson lifted their target price on Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.57.

Insider Activity at Manhattan Associates

In related 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 $11,872,615.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is owned by corporate insiders.

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.