Jacobs Levy Equity Management Inc. Sells 30,795 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 36.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,872 shares of the software maker's stock after selling 30,795 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.09% of Manhattan Associates worth $15,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MANH. Innealta Capital LLC bought a new position in Manhattan Associates during the second quarter worth about $26,000. International Assets Investment Management LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at about $27,000. DT Investment Partners LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at about $31,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Manhattan Associates during the 2nd quarter valued at about $31,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Manhattan Associates during the 3rd quarter valued at about $34,000. Institutional investors own 98.45% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. DA Davidson lifted their price objective on Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Piper Sandler assumed coverage on Manhattan Associates in a report on Monday, November 25th. They set an "overweight" rating and a $326.00 price objective on the stock. Loop Capital lifted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a report on Monday, September 16th. Citigroup lifted their target price on Manhattan Associates from $257.00 to $287.00 and gave the company a "neutral" rating in a research report on Wednesday, September 25th. Finally, Robert W. Baird lifted their target price on Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $290.78.

Manhattan Associates Trading Down 0.2 %

Shares of NASDAQ:MANH traded down $0.73 during trading on Thursday, hitting $302.60. 511,663 shares of the company were exchanged, compared to its average volume of 415,249. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 86.18 and a beta of 1.50. Manhattan Associates, Inc. has a fifty-two week low of $199.23 and a fifty-two week high of $307.50. The firm has a fifty day moving average price of $283.17 and a two-hundred day moving average price of $258.59.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.29. The firm 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 business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 EPS. As a group, research analysts predict that Manhattan Associates, Inc. will post 3.39 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Bruce Richards sold 4,150 shares of the business's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $289.73, for a total value of $1,202,379.50. Following the completion of the sale, the senior vice president now directly owns 22,086 shares in the company, valued at $6,398,976.78. The trade was a 15.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP James Stewart Gantt sold 3,475 shares of the business's 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 sale, the executive vice president now owns 42,812 shares of the company's stock, valued at $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. 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.