Janney Montgomery Scott LLC Trims Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Janney Montgomery Scott LLC lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 41.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,312 shares of the software maker's stock after selling 2,308 shares during the period. Janney Montgomery Scott LLC's holdings in Manhattan Associates were worth $932,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in Manhattan Associates in the second quarter valued at about $26,000. International Assets Investment Management LLC purchased a new position in shares of Manhattan Associates in the 2nd quarter valued at approximately $27,000. Ashton Thomas Private Wealth LLC acquired a new stake in Manhattan Associates in the 2nd quarter worth approximately $31,000. DT Investment Partners LLC purchased a new stake in Manhattan Associates during the 2nd quarter worth approximately $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in Manhattan Associates during the 2nd quarter valued at approximately $37,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MANH. Robert W. Baird upped 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. Truist Financial raised their price target on shares of Manhattan Associates from $275.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. DA Davidson increased their price objective on shares of Manhattan Associates from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Wednesday, October 23rd. Loop Capital raised their target price 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. Finally, StockNews.com lowered shares of Manhattan Associates from a "buy" rating to a "hold" rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $286.38.

Manhattan Associates Trading Down 2.5 %

Shares of MANH opened at $272.62 on Friday. The firm has a market cap of $16.65 billion, a P/E ratio of 77.45 and a beta of 1.52. The stock's 50 day moving average is $279.80 and its two-hundred day moving average is $252.45. Manhattan Associates, Inc. has a 12 month low of $199.23 and a 12 month high of $307.50.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The software maker reported $1.35 EPS for the quarter, topping the consensus estimate of $1.06 by $0.29. The company had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. Manhattan Associates had a net margin of 21.38% and a return on equity of 84.55%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.79 EPS. Equities research analysts forecast that Manhattan Associates, Inc. will post 3.4 EPS 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.