Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Tredje AP fonden

Tredje AP fonden lowered its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 10,212 shares of the software maker’s stock after selling 161 shares during the quarter. Tredje AP fonden’s holdings in Manhattan Associates were worth $2,519,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. iA Global Asset Management Inc. raised its position in shares of Manhattan Associates by 9.7% during the 1st quarter. iA Global Asset Management Inc. now owns 726 shares of the software maker’s stock worth $182,000 after buying an additional 64 shares in the last quarter. Janiczek Wealth Management LLC lifted its position in Manhattan Associates by 4.6% in the first quarter. Janiczek Wealth Management LLC now owns 1,492 shares of the software maker’s stock worth $373,000 after purchasing an additional 65 shares during the period. GAMMA Investing LLC boosted its stake in Manhattan Associates by 11.4% during the 2nd quarter. GAMMA Investing LLC now owns 804 shares of the software maker’s stock valued at $198,000 after purchasing an additional 82 shares in the last quarter. Legacy Advisors LLC increased its position in shares of Manhattan Associates by 1.3% during the 2nd quarter. Legacy Advisors LLC now owns 6,689 shares of the software maker’s stock valued at $1,650,000 after purchasing an additional 84 shares during the period. Finally, QRG Capital Management Inc. raised its stake in shares of Manhattan Associates by 3.9% in the 2nd quarter. QRG Capital Management Inc. now owns 2,567 shares of the software maker’s stock worth $633,000 after buying an additional 97 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

NASDAQ MANH opened at $275.17 on Friday. The firm’s 50 day moving average price is $251.58 and its two-hundred day moving average price is $240.14. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 89.92 and a beta of 1.50. Manhattan Associates, Inc. has a twelve month low of $182.97 and a twelve month high of $278.08.

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

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Loop Capital lifted their target price on Manhattan Associates from $265.00 to $285.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Citigroup raised their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a report on Friday, June 28th. Finally, DA Davidson lifted their price target 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $260.29.

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.