US Bancorp DE Decreases Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

US Bancorp DE cut its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 9.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,508 shares of the software maker’s stock after selling 880 shares during the period. US Bancorp DE’s holdings in Manhattan Associates were worth $2,394,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MANH. Innealta Capital LLC purchased a new stake in shares of Manhattan Associates during the second quarter worth $26,000. International Assets Investment Management LLC acquired a new position in Manhattan Associates during the second quarter worth about $27,000. DT Investment Partners LLC purchased a new stake in Manhattan Associates during the 2nd quarter valued at about $31,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates in the 2nd quarter valued at about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Manhattan Associates in the 2nd quarter worth approximately $37,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MANH. Raymond James increased their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup upped their price objective on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Robert W. Baird lifted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, DA Davidson boosted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and an average price target of $286.38.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $266.43 on Wednesday. The company’s 50 day simple moving average is $275.96 and its 200-day simple moving average is $248.61. Manhattan Associates, Inc. has a 1 year low of $199.23 and a 1 year high of $307.50. The company has a market capitalization of $16.27 billion, a price-to-earnings ratio of 75.69 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the company earned $0.79 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

About Manhattan Associates

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.