Nordea Investment Management AB Has $32.37 Million Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Nordea Investment Management AB decreased its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 5.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 118,889 shares of the software maker's stock after selling 7,423 shares during the period. Nordea Investment Management AB owned 0.19% of Manhattan Associates worth $32,372,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Manhattan Associates in the second quarter valued at about $31,000. Capital Performance Advisors LLP acquired a new position in shares of Manhattan Associates during the 3rd quarter worth approximately $34,000. Ashton Thomas Securities LLC bought a new position in shares of Manhattan Associates during the third quarter worth approximately $42,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Manhattan Associates in the third quarter valued at approximately $50,000. Finally, Brooklyn Investment Group bought a new stake in shares of Manhattan Associates in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James raised their price objective on Manhattan Associates from $255.00 to $305.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Citigroup boosted their price target on Manhattan Associates from $287.00 to $306.00 and gave the company a "neutral" rating in a research note on Monday, December 16th. 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 price objective for the company. Truist Financial raised their target price on shares of Manhattan Associates from $275.00 to $310.00 and gave the company a "buy" rating in a report on Friday, October 11th. Finally, StockNews.com raised shares of Manhattan Associates from a "hold" rating to a "buy" rating in a report on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $292.89.

Insiders Place Their Bets

In other news, EVP James Stewart Gantt sold 3,475 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $288.10, for a total transaction of $1,001,147.50. Following the completion of the transaction, the executive vice president now directly owns 42,812 shares in the company, valued at $12,334,137.20. This trade represents a 7.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bruce Richards sold 4,150 shares of Manhattan Associates stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 22,086 shares in the company, valued at approximately $6,398,976.78. This represents a 15.82 % 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 Stock Up 1.6 %

Shares of NASDAQ:MANH traded up $4.29 during trading on Wednesday, hitting $272.49. 248,409 shares of the company were exchanged, compared to its average volume of 298,002. Manhattan Associates, Inc. has a 1-year low of $199.84 and a 1-year high of $312.60. The company has a market capitalization of $16.64 billion, a P/E ratio of 77.41 and a beta of 1.52. The business's 50 day moving average is $282.49 and its 200-day moving average is $268.82.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The software maker reported $1.35 earnings per share (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 business had revenue of $266.70 million during the quarter, compared to analysts' expectations of $262.90 million. During the same quarter in the prior year, the firm earned $0.79 EPS. The business's revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Manhattan Associates, Inc. will post 3.39 earnings per share for the current year.

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.