The Manufacturers Life Insurance Company Sells 1,846 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

The Manufacturers Life Insurance Company trimmed its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,120 shares of the software maker's stock after selling 1,846 shares during the period. The Manufacturers Life Insurance Company owned about 0.07% of Manhattan Associates worth $11,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA acquired a new stake in shares of Manhattan Associates in the third quarter worth about $234,249,000. Bank of New York Mellon Corp lifted its holdings in Manhattan Associates by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 604,115 shares of the software maker's stock worth $149,023,000 after purchasing an additional 2,156 shares during the last quarter. RGM Capital LLC boosted its position in Manhattan Associates by 4.1% during the second quarter. RGM Capital LLC now owns 583,037 shares of the software maker's stock worth $143,824,000 after purchasing an additional 23,000 shares during the period. Dimensional Fund Advisors LP grew its holdings in Manhattan Associates by 20.9% during the second quarter. Dimensional Fund Advisors LP now owns 441,314 shares of the software maker's stock valued at $108,881,000 after purchasing an additional 76,378 shares during the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in shares of Manhattan Associates by 27.2% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 385,311 shares of the software maker's stock worth $94,898,000 after buying an additional 82,420 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Insider Buying and Selling at Manhattan Associates

In other news, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $12,334,137.20. This represents a 7.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.72% of the company's stock.

Manhattan Associates Price Performance

Shares of MANH stock traded up $0.93 on Tuesday, reaching $286.37. 323,828 shares of the stock were exchanged, compared to its average volume of 366,738. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The stock has a market cap of $17.49 billion, a PE ratio of 81.36 and a beta of 1.51. The stock has a 50 day moving average price of $282.57 and a 200 day moving average price of $257.79.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last released its 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 net margin of 21.38% and a return on equity of 84.55%. The company had revenue of $266.70 million for the quarter, compared to the consensus estimate of $262.90 million. During the same period in the prior year, the company posted $0.79 EPS. The company's revenue was up 11.9% compared to the same quarter last year. On average, research analysts expect that Manhattan Associates, Inc. will post 3.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Truist Financial lifted their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, October 11th. Loop Capital upped their target price on Manhattan Associates from $265.00 to $285.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Citigroup raised their price target on shares of Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Robert W. Baird boosted their target price 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. Finally, Piper Sandler started 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 for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $290.78.

Manhattan Associates Company 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.