Zurcher Kantonalbank Zurich Cantonalbank Has $3.28 Million Stake in Manhattan Associates, Inc. (NASDAQ:MANH)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH - Free Report) by 55.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,669 shares of the software maker's stock after selling 14,596 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Manhattan Associates were worth $3,283,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Fidelis Capital Partners LLC lifted its stake in shares of Manhattan Associates by 3.2% during the third quarter. Fidelis Capital Partners LLC now owns 1,279 shares of the software maker's stock valued at $347,000 after buying an additional 40 shares during the period. UMB Bank n.a. boosted its holdings in shares of Manhattan Associates by 16.7% during the third quarter. UMB Bank n.a. now owns 301 shares of the software maker's stock worth $85,000 after purchasing an additional 43 shares during the last quarter. SkyView Investment Advisors LLC grew its position in shares of Manhattan Associates by 0.9% in the second quarter. SkyView Investment Advisors LLC now owns 5,018 shares of the software maker's stock valued at $1,238,000 after purchasing an additional 46 shares during the period. Huntington National Bank increased its stake in Manhattan Associates by 5.9% in the third quarter. Huntington National Bank now owns 879 shares of the software maker's stock valued at $247,000 after purchasing an additional 49 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Manhattan Associates by 3.3% during the third quarter. CIBC Asset Management Inc now owns 1,798 shares of the software maker's stock worth $506,000 after buying an additional 58 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Insider Activity at Manhattan Associates

In other news, SVP Bruce Richards sold 4,150 shares of the stock in a transaction 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 sale, the senior vice president now owns 22,086 shares in the company, valued at $6,398,976.78. This represents a 15.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP James Stewart Gantt sold 3,475 shares of the company's stock in a transaction on 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 disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MANH. Loop Capital upped their price objective on shares of 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 upped 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. Raymond James lifted their price target on shares of Manhattan Associates from $255.00 to $305.00 and gave the company an "outperform" rating in a report on Wednesday, October 23rd. Citigroup upped their price objective on Manhattan Associates from $257.00 to $287.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Finally, Robert W. Baird lifted their price target on shares of Manhattan Associates from $263.00 to $304.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $290.78.

Manhattan Associates Stock Up 2.1 %

MANH stock traded up $6.36 during mid-day trading on Wednesday, reaching $303.45. The company had a trading volume of 224,929 shares, compared to its average volume of 414,059. Manhattan Associates, Inc. has a one year low of $199.23 and a one year high of $307.50. The stock has a market capitalization of $18.53 billion, a P/E ratio of 84.40 and a beta of 1.50. The stock's 50-day simple moving average is $282.79 and its two-hundred day simple moving average is $258.27.

Manhattan Associates (NASDAQ:MANH - Get Free Report) last posted 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 firm had revenue of $266.70 million during the quarter, compared to analyst estimates of $262.90 million. During the same period in the previous year, the business posted $0.79 EPS. Manhattan Associates's revenue was up 11.9% on a year-over-year basis. On average, research analysts forecast that Manhattan Associates, Inc. will post 3.39 EPS for the current fiscal 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.