Bank of New York Mellon Corp reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,469,971 shares of the software maker’s stock after selling 19,607 shares during the period. Bank of New York Mellon Corp owned about 2.24% of Manhattan Associates worth $69,103,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC grew its stake in Manhattan Associates by 29.3% in the 2nd quarter. Chicago Equity Partners LLC now owns 43,190 shares of the software maker’s stock worth $2,030,000 after acquiring an additional 9,795 shares during the period. Summit Global Investments purchased a new stake in Manhattan Associates in the 2nd quarter worth approximately $802,000. Dupont Capital Management Corp purchased a new stake in Manhattan Associates in the 2nd quarter worth approximately $1,741,000. BlackRock Inc. grew its stake in Manhattan Associates by 1.7% in the 2nd quarter. BlackRock Inc. now owns 5,994,696 shares of the software maker’s stock worth $281,811,000 after acquiring an additional 98,594 shares during the period. Finally, Royce & Associates LP grew its stake in Manhattan Associates by 13.9% in the 2nd quarter. Royce & Associates LP now owns 632,510 shares of the software maker’s stock worth $29,734,000 after acquiring an additional 77,120 shares during the period.

In other news, Director Edmond Eger sold 2,820 shares of the business’s stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $52.59, for a total transaction of $148,303.80. Following the completion of the sale, the director now directly owns 9,376 shares of the company’s stock, valued at approximately $493,083.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John J. Huntz, Jr. sold 2,000 shares of the business’s stock in a transaction on Friday, August 24th. The shares were sold at an average price of $56.42, for a total transaction of $112,840.00. Following the sale, the director now directly owns 72,636 shares of the company’s stock, valued at $4,098,123.12. The disclosure for this sale can be found here. 0.99% of the stock is owned by insiders.

Several analysts have commented on the stock. Zacks Investment Research raised shares of Manhattan Associates from a “hold” rating to a “strong-buy” rating and set a $52.00 target price for the company in a research note on Tuesday, October 30th. Benchmark lowered their target price on shares of Manhattan Associates to $60.00 and set a “buy” rating for the company in a research note on Wednesday, October 24th. SunTrust Banks lowered their target price on shares of Manhattan Associates to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Finally, BidaskClub raised shares of Manhattan Associates from a “sell” rating to a “hold” rating in a research note on Tuesday, October 16th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $54.00.

MANH stock opened at $47.95 on Wednesday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 27.88 and a beta of 1.27. Manhattan Associates, Inc. has a one year low of $39.10 and a one year high of $62.39.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, October 23rd. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.09. Manhattan Associates had a net margin of 18.48% and a return on equity of 71.67%. The company had revenue of $142.40 million during the quarter, compared to analysts’ expectations of $142.38 million. During the same period in the previous year, the company earned $0.51 EPS. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. As a group, equities analysts anticipate that Manhattan Associates, Inc. will post 1.48 earnings per share for the current fiscal year.

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Manhattan Associates Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations for retailers, wholesalers, manufacturers, logistics providers, and other organizations. The company provides supply chain solutions, including distribution management, transportation management, and visibility solutions; omni-channel solutions; and inventory optimization and planning solutions.

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Institutional Ownership by Quarter for Manhattan Associates (NASDAQ:MANH)

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