Nordea Investment Management AB Cuts Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Nordea Investment Management AB cut its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,889 shares of the software maker’s stock after selling 7,423 shares during the quarter. Nordea Investment Management AB owned approximately 0.19% of Manhattan Associates worth $32,372,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $484,000. GAMMA Investing LLC lifted its holdings in Manhattan Associates by 40.1% in the 4th quarter. GAMMA Investing LLC now owns 1,662 shares of the software maker’s stock valued at $449,000 after purchasing an additional 476 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Manhattan Associates by 213.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,009,913 shares of the software maker’s stock worth $284,169,000 after purchasing an additional 687,933 shares during the last quarter. Optimist Retirement Group LLC grew its holdings in shares of Manhattan Associates by 9.0% during the third quarter. Optimist Retirement Group LLC now owns 916 shares of the software maker’s stock worth $258,000 after buying an additional 76 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Manhattan Associates in the third quarter valued at about $502,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the transaction, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler initiated coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They set an “overweight” rating and a $326.00 price target on the stock. Loop Capital increased their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. DA Davidson boosted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird lifted their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Truist Financial boosted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and an average price target of $292.89.

Manhattan Associates Stock Performance

Manhattan Associates stock opened at $268.20 on Wednesday. The company’s 50 day simple moving average is $282.35 and its 200-day simple moving average is $268.80. Manhattan Associates, Inc. has a 1 year low of $199.62 and a 1 year high of $312.60. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of 76.19 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 3.39 earnings per share for the current year.

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.