Sumitomo Mitsui DS Asset Management Company Ltd Lowers Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Sumitomo Mitsui DS Asset Management Company Ltd lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,910 shares of the software maker’s stock after selling 79 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Manhattan Associates were worth $1,382,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tobam purchased a new stake in Manhattan Associates during the first quarter worth about $25,000. Innealta Capital LLC bought a new position in Manhattan Associates during the second quarter worth about $26,000. International Assets Investment Management LLC bought a new position in Manhattan Associates during the second quarter worth about $27,000. DT Investment Partners LLC bought a new position in Manhattan Associates during the second quarter worth about $31,000. Finally, Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates during the second quarter worth about $31,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MANH shares. Loop Capital increased their target price 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. Citigroup increased their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. DA Davidson increased their target price 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. Truist Financial increased their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Robert W. Baird raised their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.75.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is currently owned by insiders.

Manhattan Associates Trading Down 1.1 %

MANH stock opened at $292.32 on Wednesday. The firm has a 50 day moving average of $272.92 and a 200-day moving average of $246.07. The firm has a market capitalization of $18.00 billion, a P/E ratio of 95.53 and a beta of 1.50. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.22. The business had revenue of $265.30 million for 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%. Manhattan Associates’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Sell-side analysts predict 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.