Franklin Resources Inc. Sells 30,949 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Franklin Resources Inc. lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 2.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,338,214 shares of the software maker's stock after selling 30,949 shares during the quarter. Franklin Resources Inc. owned approximately 2.19% of Manhattan Associates worth $407,674,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Manhattan Associates by 15.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 2,080 shares of the software maker's stock valued at $513,000 after buying an additional 280 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of Manhattan Associates by 26.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 5,348 shares of the software maker's stock worth $1,319,000 after purchasing an additional 1,105 shares in the last quarter. Blue Trust Inc. raised its position in shares of Manhattan Associates by 238.4% in the second quarter. Blue Trust Inc. now owns 555 shares of the software maker's stock valued at $139,000 after purchasing an additional 391 shares during the period. Boston Trust Walden Corp lifted its stake in shares of Manhattan Associates by 3.3% during the 2nd quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker's stock valued at $27,022,000 after buying an additional 3,525 shares in the last quarter. Finally, Chesley Taft & Associates LLC boosted its holdings in Manhattan Associates by 20.8% in the 2nd quarter. Chesley Taft & Associates LLC now owns 2,035 shares of the software maker's stock worth $502,000 after buying an additional 351 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Raymond James boosted their target price on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Truist Financial lifted their target price on Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a report on Friday, October 11th. Loop Capital increased their price target on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a report on Monday, September 16th. DA Davidson upped 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. Finally, Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. 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, Manhattan Associates presently has a consensus rating of "Moderate Buy" and an average target price of $290.78.

Manhattan Associates Stock Down 3.7 %

NASDAQ:MANH traded down $11.61 during midday trading on Friday, hitting $298.17. The company had a trading volume of 305,803 shares, compared to its average volume of 413,238. The company has a market capitalization of $18.21 billion, a PE ratio of 84.71 and a beta of 1.50. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $312.60. The stock's fifty day moving average price is $286.25 and its 200-day moving average price is $262.00.

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

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, SVP Bruce Richards sold 4,150 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now owns 22,086 shares in the company, valued at approximately $6,398,976.78. The trade was a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction 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 disclosure for this sale can be found here. Company insiders own 0.72% of the company's stock.

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.