Ritholtz Wealth Management Sells 887 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Ritholtz Wealth Management lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 26.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,441 shares of the software maker’s stock after selling 887 shares during the quarter. Ritholtz Wealth Management’s holdings in Manhattan Associates were worth $660,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Oak Thistle LLC acquired a new stake in shares of Manhattan Associates in the fourth quarter valued at approximately $1,326,000. GAMMA Investing LLC raised its holdings in shares of Manhattan Associates by 47.5% in the third quarter. GAMMA Investing LLC now owns 1,186 shares of the software maker’s stock valued at $334,000 after purchasing an additional 382 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of Manhattan Associates by 602.0% in the third quarter. Mediolanum International Funds Ltd now owns 20,042 shares of the software maker’s stock valued at $5,607,000 after purchasing an additional 17,187 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Manhattan Associates by 213.7% in the third quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock valued at $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Finally, Chartwell Investment Partners LLC raised its holdings in shares of Manhattan Associates by 31.1% in the third quarter. Chartwell Investment Partners LLC now owns 21,557 shares of the software maker’s stock valued at $6,065,000 after purchasing an additional 5,119 shares during the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Trading Down 0.7 %

NASDAQ MANH opened at $273.43 on Tuesday. The company has a market cap of $16.70 billion, a P/E ratio of 77.68 and a beta of 1.52. The company has a fifty day simple moving average of $282.06 and a 200 day simple moving average of $270.48. Manhattan Associates, Inc. has a 12-month low of $205.12 and a 12-month high of $312.60.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.29. The firm had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.79 EPS. Sell-side analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Raymond James boosted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Citigroup boosted their target price on shares of Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler assumed coverage on shares of Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $292.89.

Insider Transactions at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the transaction, the senior vice president now directly owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

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.