Martingale Asset Management L P Has $3.35 Million Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Martingale Asset Management L P cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 74.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,902 shares of the software maker’s stock after selling 34,795 shares during the period. Martingale Asset Management L P’s holdings in Manhattan Associates were worth $3,349,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fidelis Capital Partners LLC raised its holdings in shares of Manhattan Associates by 3.2% in the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker’s stock valued at $347,000 after purchasing an additional 40 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Manhattan Associates by 16.7% in the third quarter. UMB Bank n.a. now owns 301 shares of the software maker’s stock valued at $85,000 after purchasing an additional 43 shares during the last quarter. SkyView Investment Advisors LLC raised its holdings in shares of Manhattan Associates by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker’s stock valued at $1,238,000 after purchasing an additional 46 shares during the last quarter. Huntington National Bank raised its holdings in shares of Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker’s stock valued at $247,000 after purchasing an additional 49 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Manhattan Associates by 3.3% in the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker’s stock valued at $506,000 after purchasing an additional 58 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP James Stewart Gantt sold 3,475 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 42,812 shares of the company’s stock, valued at approximately $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Price Performance

NASDAQ:MANH opened at $285.44 on Friday. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The company has a market cap of $17.43 billion, a P/E ratio of 81.09 and a beta of 1.52. The firm’s fifty day moving average price is $282.27 and its two-hundred day moving average price is $256.35.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings data on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating the consensus estimate of $1.06 by $0.29. The firm had revenue of $266.70 million for 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 company’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share. As a group, equities research analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MANH. Robert W. Baird boosted their target price on shares of Manhattan Associates from $263.00 to $304.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Citigroup boosted their target price on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Piper Sandler began coverage on shares of Manhattan Associates in a report on Monday, November 25th. They set an “overweight” rating and a $326.00 target price on the stock. Raymond James boosted 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. Finally, DA Davidson boosted their target price on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.