Manhattan Associates, Inc. $MANH Stock: Sumitomo Mitsui Trust Group Inc. Raises Stake

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 711,615 shares of the software maker’s stock after purchasing an additional 3,658 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 1.22% of Manhattan Associates worth $141,398,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MANH. Profund Advisors LLC acquired a new stake in Manhattan Associates in the third quarter worth $237,000. Vise Technologies Inc. boosted its holdings in shares of Manhattan Associates by 32.7% during the third quarter. Vise Technologies Inc. now owns 3,476 shares of the software maker’s stock valued at $691,000 after acquiring an additional 857 shares during the period. Parcion Private Wealth LLC acquired a new position in shares of Manhattan Associates during the third quarter valued at $250,000. Soltis Investment Advisors LLC acquired a new position in shares of Manhattan Associates during the third quarter valued at $282,000. Finally, D.A. Davidson & CO. grew its position in shares of Manhattan Associates by 6.5% during the third quarter. D.A. Davidson & CO. now owns 1,728 shares of the software maker’s stock worth $343,000 after acquiring an additional 106 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the sale, the chief executive officer directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.84% of the company’s stock.

Manhattan Associates Stock Performance

Shares of MANH opened at $253.22 on Tuesday. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $259.76. The stock’s fifty day moving average is $217.36 and its 200-day moving average is $167.08. The firm has a market capitalization of $14.77 billion, a price-to-earnings ratio of 70.93 and a beta of 0.95.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.09. The business had revenue of $306.19 million during the quarter, compared to the consensus estimate of $297.01 million. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The company’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.36 earnings per share. Analysts forecast that Manhattan Associates, Inc. will post 3.88 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on MANH shares. Truist Financial reiterated a “buy” rating and issued a $305.00 price objective (up from $240.00) on shares of Manhattan Associates in a research report on Wednesday, October 28th. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday. Barclays upped their target price on shares of Manhattan Associates from $239.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday. DA Davidson raised their price target on shares of Manhattan Associates from $210.00 to $230.00 and gave the company a “neutral” rating in a research note on Wednesday, October 28th. Finally, Citigroup lifted their price target on Manhattan Associates from $260.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $261.11.

Manhattan Associates Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.