Larson Financial Group LLC Trims Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Larson Financial Group LLC lowered its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,487 shares of the software maker’s stock after selling 1,072 shares during the period. Larson Financial Group LLC’s holdings in Manhattan Associates were worth $4,411,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Manhattan Associates by 259.4% during the fourth quarter. Blue Trust Inc. now owns 115 shares of the software maker’s stock valued at $25,000 after purchasing an additional 83 shares during the last quarter. Bear Mountain Capital Inc. bought a new stake in Manhattan Associates during the fourth quarter valued at approximately $26,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Manhattan Associates during the fourth quarter valued at approximately $26,000. UMB Bank n.a. lifted its position in Manhattan Associates by 474.4% during the third quarter. UMB Bank n.a. now owns 224 shares of the software maker’s stock valued at $44,000 after purchasing an additional 185 shares during the last quarter. Finally, Lindbrook Capital LLC lifted its position in Manhattan Associates by 28.8% during the fourth quarter. Lindbrook Capital LLC now owns 206 shares of the software maker’s stock valued at $44,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MANH. Citigroup began coverage on shares of Manhattan Associates in a report on Wednesday, March 13th. They issued a “neutral” rating and a $260.00 price objective for the company. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a report on Monday, April 15th. Raymond James boosted their price objective on shares of Manhattan Associates from $214.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, Truist Financial boosted their price objective on shares of Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $231.29.

Manhattan Associates Stock Performance

NASDAQ:MANH traded up $1.98 during midday trading on Monday, reaching $228.32. 491,440 shares of the stock traded hands, compared to its average volume of 367,990. The company has a fifty day moving average of $246.27 and a 200 day moving average of $226.90. Manhattan Associates, Inc. has a 12 month low of $152.32 and a 12 month high of $266.94. The stock has a market capitalization of $14.06 billion, a P/E ratio of 80.96 and a beta of 1.44.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings results on Tuesday, January 30th. The software maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. Manhattan Associates had a net margin of 19.01% and a return on equity of 84.08%. The company had revenue of $238.26 million during the quarter, compared to analyst estimates of $223.99 million. On average, analysts predict that Manhattan Associates, Inc. will post 2.78 EPS for the current fiscal year.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CEO Eddie Capel sold 10,897 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the transaction, the chief executive officer now directly owns 242,153 shares of the company’s stock, valued at approximately $59,988,562.69. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP James Stewart Gantt sold 680 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $248.84, for a total value of $169,211.20. Following the sale, the executive vice president now directly owns 57,093 shares of the company’s stock, valued at approximately $14,207,022.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Eddie Capel sold 10,897 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $247.73, for a total transaction of $2,699,513.81. Following the completion of the sale, the chief executive officer now directly owns 242,153 shares in the company, valued at $59,988,562.69. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.

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.