Hennion & Walsh Asset Management Inc. Cuts Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Hennion & Walsh Asset Management Inc. trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,850 shares of the software maker’s stock after selling 39 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Manhattan Associates were worth $1,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MANH. State Street Corp lifted its position in Manhattan Associates by 0.6% during the third quarter. State Street Corp now owns 2,203,139 shares of the software maker’s stock valued at $619,918,000 after purchasing an additional 12,787 shares during the last quarter. FMR LLC grew its position in Manhattan Associates by 7.3% in the third quarter. FMR LLC now owns 1,917,412 shares of the software maker’s stock worth $539,521,000 after acquiring an additional 130,817 shares in the last quarter. Geode Capital Management LLC increased its stake in Manhattan Associates by 5.8% during the third quarter. Geode Capital Management LLC now owns 1,514,941 shares of the software maker’s stock worth $426,308,000 after acquiring an additional 82,995 shares during the last quarter. JPMorgan Chase & Co. raised its position in Manhattan Associates by 213.7% during 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 period. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Manhattan Associates in the 3rd quarter worth approximately $234,249,000. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Down 0.7 %

Shares of Manhattan Associates stock opened at $273.43 on Monday. The stock’s fifty day moving average price is $282.26 and its 200-day moving average price is $270.29. The firm has a market cap of $16.70 billion, a P/E ratio of 77.68 and a beta of 1.52. Manhattan Associates, Inc. has a 12 month low of $205.12 and a 12 month high of $312.60.

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

Insider Buying and Selling

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the firm’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 completion of the sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at approximately $6,398,976.78. This trade represents a 15.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares in the company, valued at $12,334,137.20. The trade was 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 company insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on MANH shares. Citigroup raised their price target on Manhattan Associates from $287.00 to $306.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Robert W. Baird upped their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Piper Sandler began coverage on shares of Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective for the company. Truist Financial upped their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus price target of $292.89.

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.