West Coast Financial LLC Has $11.86 Million Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

West Coast Financial LLC reduced its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 22.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 42,162 shares of the software maker’s stock after selling 12,184 shares during the quarter. Manhattan Associates makes up about 1.3% of West Coast Financial LLC’s portfolio, making the stock its 21st largest holding. West Coast Financial LLC’s holdings in Manhattan Associates were worth $11,864,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in shares of Manhattan Associates in the fourth quarter valued at about $38,000. Virtu Financial LLC bought a new position in Manhattan Associates during the fourth quarter worth about $1,406,000. Goldman Sachs Group Inc. boosted its position in Manhattan Associates by 18.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 401,563 shares of the software maker’s stock worth $86,465,000 after purchasing an additional 62,031 shares during the period. HighPoint Advisor Group LLC bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $412,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Manhattan Associates in the fourth quarter valued at approximately $377,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded up $4.73 during mid-day trading on Friday, hitting $298.73. The stock had a trading volume of 73,672 shares, compared to its average volume of 406,446. The firm has a market cap of $18.30 billion, a P/E ratio of 89.63 and a beta of 1.50. The business has a 50 day moving average price of $264.90 and a two-hundred day moving average price of $243.45. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $298.92.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same quarter in the previous year, the business posted $0.63 EPS. Manhattan Associates’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts predict that Manhattan Associates, Inc. will post 3.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MANH has been the subject of a number of analyst reports. StockNews.com lowered shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Truist Financial lifted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday. Citigroup lifted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. DA Davidson lifted their target price on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Loop Capital lifted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $271.71.

Manhattan Associates Company 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.