Private Trust Co. NA Reduces Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Private Trust Co. NA lessened its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 14.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 329 shares of the software maker’s stock after selling 54 shares during the quarter. Private Trust Co. NA’s holdings in Manhattan Associates were worth $93,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MANH. Harvest Fund Management Co. Ltd grew its holdings in shares of Manhattan Associates by 76.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 3,351 shares of the software maker’s stock worth $943,000 after purchasing an additional 1,453 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Manhattan Associates by 30.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,604 shares of the software maker’s stock worth $1,577,000 after acquiring an additional 1,304 shares in the last quarter. Alpha DNA Investment Management LLC increased its position in shares of Manhattan Associates by 13.7% during the third quarter. Alpha DNA Investment Management LLC now owns 3,167 shares of the software maker’s stock worth $891,000 after acquiring an additional 382 shares during the period. Larson Financial Group LLC raised its stake in shares of Manhattan Associates by 1.6% during the third quarter. Larson Financial Group LLC now owns 21,267 shares of the software maker’s stock valued at $5,984,000 after acquiring an additional 343 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Manhattan Associates by 45.8% in the third quarter. Cerity Partners LLC now owns 19,622 shares of the software maker’s stock valued at $5,521,000 after purchasing an additional 6,162 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Activity

In other news, 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 transaction of $1,001,147.50. Following the completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.72% of the company’s stock.

Manhattan Associates Trading Down 0.8 %

Shares of MANH stock opened at $285.44 on Friday. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $307.50. The business’s fifty day simple moving average is $282.27 and its 200-day simple moving average is $256.35. The company has a market cap of $17.43 billion, a PE ratio of 81.09 and a beta of 1.52.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Citigroup raised 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. Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Truist Financial increased their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Piper Sandler assumed 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. Finally, Loop Capital increased their price objective on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $290.78.

Manhattan Associates 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.