Manhattan Associates, Inc. $MANH Position Lowered by State of Wyoming

State of Wyoming cut its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 55.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,579 shares of the software maker’s stock after selling 1,971 shares during the quarter. State of Wyoming’s holdings in Manhattan Associates were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MANH. Bank of America Corp DE bought a new position in Manhattan Associates during the second quarter valued at approximately $75,136,000. William Blair Investment Management LLC acquired a new position in Manhattan Associates during the second quarter worth $94,049,000. BlackRock Inc. acquired a new stake in shares of Manhattan Associates in the second quarter worth about $944,285,000. Engineers Gate Manager LP increased its holdings in shares of Manhattan Associates by 1,309.1% during the 2nd quarter. Engineers Gate Manager LP now owns 132,846 shares of the software maker’s stock valued at $18,499,000 after acquiring an additional 123,418 shares during the last quarter. Finally, Man Group plc bought a new position in shares of Manhattan Associates in the 2nd quarter valued at approximately $7,809,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insiders Place Their Bets

In related news, Director Linda Hollembaek sold 1,315 shares of Manhattan Associates stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $250.00, for a total value of $328,750.00. Following the completion of the transaction, the director directly owned 10,953 shares of the company’s stock, valued at $2,738,250. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Eric Clark sold 3,000 shares of the firm’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 completion of the sale, the chief executive officer owned 89,638 shares of the company’s stock, valued at $17,726,810.88. The trade was a 3.24% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley raised shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $180.00 to $250.00 in a research report on Monday, October 12th. Weiss Ratings raised Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Barclays lifted their price target on Manhattan Associates from $239.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday. Wall Street Zen downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday, November 1st. Finally, Stifel Nicolaus upped their price objective on shares of Manhattan Associates from $250.00 to $300.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $261.11.

Manhattan Associates Trading Down 2.0%

MANH stock opened at $255.17 on Friday. Manhattan Associates, Inc. has a 1-year low of $119.06 and a 1-year high of $263.47. The business’s 50 day moving average is $219.93 and its 200-day moving average is $168.32. The firm has a market cap of $14.82 billion, a P/E ratio of 71.48 and a beta of 0.85.

Manhattan Associates (NASDAQ:MANH) last posted its earnings results 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 for the quarter, compared to analyst estimates of $297.01 million. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 EPS. Sell-side analysts forecast that Manhattan Associates, Inc. will post 3.88 EPS for the current year.

Manhattan Associates Company 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.