Pitcairn Co. Sells 3,602 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

Pitcairn Co. trimmed its position in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 47.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,954 shares of the software maker's stock after selling 3,602 shares during the period. Pitcairn Co.'s holdings in Manhattan Associates were worth $1,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Manhattan Associates during the second quarter valued at approximately $26,000. International Assets Investment Management LLC bought a new stake in shares of Manhattan Associates during the 2nd quarter worth $27,000. DT Investment Partners LLC purchased a new position in Manhattan Associates in the second quarter worth $31,000. Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates in the second quarter valued at $31,000. Finally, Capital Performance Advisors LLP bought a new position in Manhattan Associates in the third quarter valued at $34,000. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MANH. DA Davidson upped their price objective on Manhattan Associates from $285.00 to $315.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. StockNews.com lowered Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Truist Financial lifted their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, October 11th. Piper Sandler started coverage on shares of Manhattan Associates in a research note on Monday. They issued an "overweight" rating and a $326.00 price objective for the company. Finally, Loop Capital lifted their target price on shares of Manhattan Associates from $265.00 to $285.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. 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, the stock has an average rating of "Moderate Buy" and an average price target of $290.78.

Manhattan Associates Trading Up 3.7 %

Shares of MANH stock traded up $10.34 during mid-day trading on Monday, reaching $290.74. The stock had a trading volume of 1,167,418 shares, compared to its average volume of 416,394. The firm has a market capitalization of $17.76 billion, a PE ratio of 82.60 and a beta of 1.52. The stock's 50-day moving average price is $281.33 and its two-hundred day moving average price is $255.41. Manhattan Associates, Inc. has a 52-week low of $199.23 and a 52-week high of $307.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (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 for the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the previous year, the business earned $0.79 EPS. Manhattan Associates's revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts forecast that Manhattan Associates, Inc. will post 3.4 earnings per share for the current 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.