Principal Financial Group Inc. Decreases Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Principal Financial Group Inc. cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 14.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 370,694 shares of the software maker's stock after selling 64,371 shares during the period. Principal Financial Group Inc. owned about 0.60% of Manhattan Associates worth $104,306,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norden Group LLC bought a new stake in shares of Manhattan Associates in the 1st quarter valued at about $225,000. Janney Montgomery Scott LLC boosted its holdings in Manhattan Associates by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 4,338 shares of the software maker's stock valued at $1,086,000 after acquiring an additional 218 shares during the last quarter. Quantbot Technologies LP increased its position in Manhattan Associates by 146.5% during the 1st quarter. Quantbot Technologies LP now owns 1,854 shares of the software maker's stock valued at $464,000 after purchasing an additional 1,102 shares during the period. SG Americas Securities LLC raised its holdings in Manhattan Associates by 399.7% during the 1st quarter. SG Americas Securities LLC now owns 13,417 shares of the software maker's stock worth $3,357,000 after purchasing an additional 10,732 shares during the last quarter. Finally, Forsta AP Fonden lifted its position in shares of Manhattan Associates by 3.8% in the 1st quarter. Forsta AP Fonden now owns 38,598 shares of the software maker's stock worth $9,658,000 after purchasing an additional 1,400 shares during the period. 98.45% of the stock is owned by institutional investors.

Manhattan Associates Price Performance

Shares of MANH stock traded down $0.19 on Friday, hitting $283.48. The stock had a trading volume of 284,005 shares, compared to its average volume of 514,590. Manhattan Associates, Inc. has a 12-month low of $199.23 and a 12-month high of $307.50. The business has a 50 day moving average of $277.28 and a 200 day moving average of $249.88. The stock has a market cap of $17.31 billion, a price-to-earnings ratio of 80.53 and a beta of 1.52.

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, 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 during the quarter, compared to the consensus estimate of $262.90 million. During the same period last year, the business posted $0.79 earnings per share. Manhattan Associates's revenue was up 11.9% on a year-over-year basis. As a group, research analysts expect that Manhattan Associates, Inc. will post 3.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Loop Capital increased their price objective 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. Robert W. Baird increased their price target on Manhattan Associates from $263.00 to $304.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. StockNews.com downgraded Manhattan Associates from a "buy" rating to a "hold" rating in a research note on Thursday, August 1st. Citigroup raised their target price on Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Finally, DA Davidson lifted their price target on shares of Manhattan Associates from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates has a consensus rating of "Moderate Buy" and a consensus target price of $286.38.

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.