Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,744 shares of the software maker’s stock after selling 8,328 shares during the quarter. Exchange Traded Concepts LLC owned approximately 0.08% of Manhattan Associates worth $13,983,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Evergreen Capital Management LLC bought a new position in Manhattan Associates in the 2nd quarter worth approximately $283,000. Bank of Montreal Can increased its position in shares of Manhattan Associates by 7.5% during the 2nd quarter. Bank of Montreal Can now owns 19,594 shares of the software maker’s stock valued at $4,845,000 after purchasing an additional 1,359 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Manhattan Associates by 60.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 11,791 shares of the software maker’s stock worth $2,909,000 after acquiring an additional 4,441 shares during the period. Squarepoint Ops LLC boosted its position in shares of Manhattan Associates by 448.9% during the 2nd quarter. Squarepoint Ops LLC now owns 160,649 shares of the software maker’s stock valued at $39,629,000 after purchasing an additional 131,381 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Manhattan Associates by 2.1% during the 2nd quarter. Toronto Dominion Bank now owns 5,992 shares of the software maker’s stock worth $1,478,000 after acquiring an additional 121 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

MANH stock opened at $284.71 on Friday. The stock has a market capitalization of $17.39 billion, a PE ratio of 80.88 and a beta of 1.52. Manhattan Associates, Inc. has a 1 year low of $205.12 and a 1 year high of $312.60. The company’s 50-day moving average is $282.01 and its 200-day moving average is $270.90.

Manhattan Associates (NASDAQ:MANH) last issued its quarterly earnings data 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 firm had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same period in the prior year, the business posted $0.79 earnings per share. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, analysts anticipate that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Insider Activity at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $289.73, for a total value of $1,202,379.50. Following the sale, the senior vice president now owns 22,086 shares of the company’s stock, valued at $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of Manhattan Associates stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $288.10, for a total value of $1,001,147.50. Following the completion of the transaction, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MANH has been the subject of several research reports. Raymond James raised their target price on Manhattan Associates from $255.00 to $305.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Piper Sandler began coverage on shares of Manhattan Associates in a report on Monday, November 25th. They issued an “overweight” rating and a $326.00 price target for the company. Citigroup boosted their price target on Manhattan Associates from $287.00 to $306.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Truist Financial lifted their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Finally, Robert W. Baird raised their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $292.89.

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.