Edgestream Partners L.P. Sells 21,354 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Edgestream Partners L.P. lessened its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 69.4% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 9,397 shares of the software maker’s stock after selling 21,354 shares during the quarter. Edgestream Partners L.P.’s holdings in Manhattan Associates were worth $2,318,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Menard Financial Group LLC boosted its holdings in Manhattan Associates by 34.4% during the 2nd quarter. Menard Financial Group LLC now owns 2,683 shares of the software maker’s stock valued at $662,000 after acquiring an additional 687 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Manhattan Associates by 20.9% during the second quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker’s stock valued at $108,881,000 after purchasing an additional 76,378 shares during the period. Inspire Advisors LLC grew its holdings in shares of Manhattan Associates by 190.1% in the second quarter. Inspire Advisors LLC now owns 10,349 shares of the software maker’s stock worth $2,553,000 after purchasing an additional 6,782 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Manhattan Associates by 26.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 139,294 shares of the software maker’s stock worth $34,361,000 after buying an additional 28,874 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Manhattan Associates by 39.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 13,872 shares of the software maker’s stock valued at $3,422,000 after buying an additional 3,925 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the business’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 transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Down 1.2 %

Shares of NASDAQ MANH opened at $269.20 on Thursday. Manhattan Associates, Inc. has a 12-month low of $182.97 and a 12-month high of $276.99. The stock’s fifty day simple moving average is $251.12 and its two-hundred day simple moving average is $239.94. The stock has a market capitalization of $16.57 billion, a PE ratio of 87.97 and a beta of 1.50.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. DA Davidson upped their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, July 24th. Citigroup increased their price objective on Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research note on Friday, June 28th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Loop Capital upped their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $260.29.

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.