Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Fort L.P.

Fort L.P. lowered its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 7.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,004 shares of the software maker’s stock after selling 81 shares during the quarter. Fort L.P.’s holdings in Manhattan Associates were worth $283,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. M&G Plc purchased a new stake in shares of Manhattan Associates in the 1st quarter valued at $77,433,000. Fiera Capital Corp purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at about $44,705,000. Squarepoint Ops LLC increased its holdings in shares of Manhattan Associates by 448.9% in the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after acquiring an additional 131,381 shares during the last quarter. Russell Investments Group Ltd. grew its stake in Manhattan Associates by 173.2% during the 1st quarter. Russell Investments Group Ltd. now owns 163,497 shares of the software maker’s stock worth $40,893,000 after buying an additional 103,645 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Manhattan Associates by 118.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 173,644 shares of the software maker’s stock worth $48,860,000 after buying an additional 94,283 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Loop Capital raised their price target on Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a report on Monday, September 16th. Raymond James lifted their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Citigroup lifted their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $286.38.

Manhattan Associates Price Performance

MANH stock traded up $0.99 during trading on Friday, reaching $264.35. 329,374 shares of the stock traded hands, compared to its average volume of 497,408. The business’s 50 day moving average price is $275.85 and its 200-day moving average price is $248.10. Manhattan Associates, Inc. has a 52-week low of $198.45 and a 52-week high of $307.50. The firm has a market capitalization of $16.15 billion, a PE ratio of 75.10 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The business had revenue of $266.70 million for the quarter, compared to analysts’ expectations of $262.90 million. During the same quarter in the previous year, the firm posted $0.79 earnings per share. The company’s revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

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.