Quantbot Technologies LP cut its holdings in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 38.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,637 shares of the software maker's stock after selling 2,285 shares during the period. Quantbot Technologies LP's holdings in Manhattan Associates were worth $1,023,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Innealta Capital LLC bought a new position in Manhattan Associates during the 2nd quarter worth $26,000. International Assets Investment Management LLC bought a new position in Manhattan Associates during the second quarter valued at about $27,000. Capital Performance Advisors LLP bought a new stake in Manhattan Associates in the 3rd quarter valued at about $34,000. Ashton Thomas Private Wealth LLC bought a new position in Manhattan Associates in the 2nd quarter worth about $31,000. Finally, DT Investment Partners LLC bought a new position in Manhattan Associates in the 2nd quarter worth about $31,000. 98.45% of the stock is owned by institutional investors.
Analyst Ratings Changes
MANH has been the topic of a number of research reports. Piper Sandler initiated 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. Raymond James lifted their price target on Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd. Loop Capital lifted their price objective on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Truist Financial lifted their price objective on Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, October 11th. Finally, Robert W. Baird lifted their price objective on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $290.78.
Check Out Our Latest Report on Manhattan Associates
Manhattan Associates Stock Performance
MANH traded down $1.13 on Monday, hitting $284.31. The company had a trading volume of 131,785 shares, compared to its average volume of 413,439. The stock has a market capitalization of $17.37 billion, a price-to-earnings ratio of 81.09 and a beta of 1.52. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $307.50. The stock has a fifty day moving average price of $282.46 and a 200-day moving average price of $257.37.
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, topping 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 firm had revenue of $266.70 million during the quarter, compared to the consensus estimate of $262.90 million. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company's revenue was up 11.9% compared to the same quarter last year. Analysts forecast that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal year.
Insider Activity at Manhattan Associates
In other news, EVP James Stewart Gantt sold 3,475 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. The trade was a 7.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.72% of the stock is currently owned by insiders.
Manhattan Associates Profile
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Free Report)
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.
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