Victory Capital Management Inc. Trims Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Victory Capital Management Inc. reduced its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 35.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,878 shares of the software maker’s stock after selling 18,978 shares during the period. Victory Capital Management Inc. owned approximately 0.06% of Manhattan Associates worth $9,814,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UniSuper Management Pty Ltd increased its stake in Manhattan Associates by 80.0% during the first quarter. UniSuper Management Pty Ltd now owns 900 shares of the software maker’s stock worth $225,000 after purchasing an additional 400 shares during the period. CreativeOne Wealth LLC acquired a new position in shares of Manhattan Associates during the first quarter worth about $834,000. 1832 Asset Management L.P. grew its position in shares of Manhattan Associates by 361.5% during the first quarter. 1832 Asset Management L.P. now owns 38,487 shares of the software maker’s stock worth $9,631,000 after buying an additional 30,148 shares in the last quarter. Epoch Investment Partners Inc. grew its position in shares of Manhattan Associates by 6.5% during the first quarter. Epoch Investment Partners Inc. now owns 393,450 shares of the software maker’s stock worth $98,453,000 after buying an additional 24,098 shares in the last quarter. Finally, Magnetar Financial LLC grew its position in shares of Manhattan Associates by 90.9% during the first quarter. Magnetar Financial LLC now owns 7,126 shares of the software maker’s stock worth $1,783,000 after buying an additional 3,394 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Associates Price Performance

Manhattan Associates stock opened at $271.80 on Friday. The business has a 50 day simple moving average of $280.59 and a 200-day simple moving average of $253.88. The stock has a market capitalization of $16.60 billion, a PE ratio of 77.21 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The company had revenue of $266.70 million for the quarter, compared to analyst estimates of $262.90 million. During the same quarter in the prior year, the company earned $0.79 earnings per share. Manhattan Associates’s revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.4 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MANH. Robert W. Baird upped their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Truist Financial upped their price target on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a report on Friday, October 11th. Raymond James boosted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson boosted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Citigroup boosted their price objective on Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $286.38.

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.