American International Group Inc. Sells 3,740 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

American International Group Inc. cut its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,697 shares of the software maker’s stock after selling 3,740 shares during the period. American International Group Inc.’s holdings in Manhattan Associates were worth $18,022,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MANH. HighTower Advisors LLC lifted its stake in Manhattan Associates by 98.6% during the third quarter. HighTower Advisors LLC now owns 12,043 shares of the software maker’s stock worth $2,388,000 after purchasing an additional 5,979 shares during the period. DekaBank Deutsche Girozentrale grew its position in Manhattan Associates by 1,227.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 23,741 shares of the software maker’s stock valued at $4,675,000 after acquiring an additional 21,952 shares during the period. Aviva PLC raised its stake in Manhattan Associates by 235.9% during the third quarter. Aviva PLC now owns 25,619 shares of the software maker’s stock worth $5,064,000 after acquiring an additional 17,993 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of Manhattan Associates during the third quarter valued at $200,000. Finally, Prudential PLC acquired a new stake in shares of Manhattan Associates in the 3rd quarter valued at $825,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Associates Price Performance

Shares of MANH stock traded down $0.30 on Friday, reaching $228.84. 152,222 shares of the stock were exchanged, compared to its average volume of 406,481. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $266.94. The stock has a market cap of $14.09 billion, a PE ratio of 74.78 and a beta of 1.48. The stock has a 50 day moving average price of $222.63 and a 200 day moving average price of $229.90.

Manhattan Associates (NASDAQ:MANH) last announced its quarterly earnings data on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.23. The firm had revenue of $254.55 million during the quarter, compared to analysts’ expectations of $243.32 million. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. On average, research analysts expect that Manhattan Associates, Inc. will post 2.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, May 27th. Redburn Atlantic began coverage on Manhattan Associates in a research report on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target on the stock. Citigroup cut their price objective on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, April 24th. Rosenblatt Securities restated a “neutral” rating and set a $225.00 target price on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, DA Davidson lifted their price target on Manhattan Associates from $240.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $240.50.

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.