Manhattan Associates, Inc. (NASDAQ:MANH) Stake Cut by American Capital Management Inc.

American Capital Management Inc. trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 564,818 shares of the software maker's stock after selling 75,188 shares during the quarter. Manhattan Associates makes up 5.2% of American Capital Management Inc.'s investment portfolio, making the stock its 3rd largest position. American Capital Management Inc. owned approximately 0.92% of Manhattan Associates worth $158,928,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC boosted its stake in Manhattan Associates by 18.7% in the first quarter. Janus Henderson Group PLC now owns 2,746 shares of the software maker's stock valued at $687,000 after acquiring an additional 432 shares in the last quarter. Swedbank AB purchased a new position in Manhattan Associates during the 1st quarter worth approximately $4,759,000. Atria Investments Inc increased its position in Manhattan Associates by 3.3% during the first quarter. Atria Investments Inc now owns 5,574 shares of the software maker's stock worth $1,395,000 after buying an additional 177 shares during the period. HM Payson & Co. increased its position in Manhattan Associates by 51.2% during the first quarter. HM Payson & Co. now owns 786 shares of the software maker's stock worth $197,000 after buying an additional 266 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Manhattan Associates by 11.4% in the second quarter. GAMMA Investing LLC now owns 804 shares of the software maker's stock valued at $198,000 after buying an additional 82 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MANH shares. Piper Sandler assumed coverage on shares of Manhattan Associates in a research report on Monday, November 25th. They set an "overweight" rating and a $326.00 target price on the stock. Robert W. Baird lifted their price objective on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Loop Capital upped their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a report on Monday, September 16th. DA Davidson raised their price target on Manhattan Associates from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Finally, Raymond James upped their price objective on Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Manhattan Associates currently has an average rating of "Moderate Buy" and an average price target of $290.78.

Insiders Place Their Bets

In other Manhattan Associates news, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total value of $1,001,147.50. Following the sale, the executive vice president now owns 42,812 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is currently owned by company insiders.

Manhattan Associates Trading Down 0.8 %

Shares of MANH traded down $2.24 during mid-day trading on Friday, hitting $285.44. The company's stock had a trading volume of 171,170 shares, compared to its average volume of 374,649. The firm has a 50-day simple moving average of $282.46 and a 200 day simple moving average of $257.13. Manhattan Associates, Inc. has a 1-year low of $199.23 and a 1-year high of $307.50. The firm has a market capitalization of $17.43 billion, a P/E ratio of 81.09 and a beta of 1.52.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.29. Manhattan Associates had a return on equity of 84.55% and a net margin of 21.38%. The company had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter last year, the company earned $0.79 earnings per share. Manhattan Associates's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, sell-side analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.

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.