MassMutual Private Wealth & Trust FSB Sells 529 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

MassMutual Private Wealth & Trust FSB decreased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 27.9% during the 4th quarter, Holdings Channel reports. The firm owned 1,364 shares of the software maker’s stock after selling 529 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Manhattan Associates were worth $369,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in Manhattan Associates during the third quarter worth $34,000. Ashton Thomas Securities LLC bought a new position in shares of Manhattan Associates in the 3rd quarter valued at about $42,000. Carolina Wealth Advisors LLC acquired a new position in shares of Manhattan Associates during the 3rd quarter worth about $50,000. Brooklyn Investment Group bought a new stake in shares of Manhattan Associates in the 3rd quarter valued at about $58,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in Manhattan Associates in the 3rd quarter valued at about $63,000. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Stock Performance

MANH stock opened at $281.95 on Thursday. Manhattan Associates, Inc. has a 52 week low of $205.12 and a 52 week high of $312.60. The company’s 50-day simple moving average is $281.91 and its 200 day simple moving average is $270.80. The company has a market capitalization of $17.22 billion, a PE ratio of 80.10 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.79 earnings per share. On average, analysts forecast that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on MANH shares. Piper Sandler began coverage on Manhattan Associates in a research note on Monday, November 25th. They issued an “overweight” rating and a $326.00 price objective on the stock. Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Truist Financial lifted their price objective on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, Raymond James lifted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $292.89.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 3,475 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $289.73, for a total transaction of $1,202,379.50. Following the completion of the transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.