Manhattan Associates, Inc. (NASDAQ:MANH) Stock Holdings Lowered by American International Group Inc.

American International Group Inc. reduced its holdings in Manhattan Associates, Inc. (NASDAQ:MANH) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,017 shares of the software maker’s stock after selling 1,680 shares during the quarter. American International Group Inc.’s holdings in Manhattan Associates were worth $20,523,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Manhattan Associates by 0.9% during the first quarter. Vanguard Group Inc. now owns 6,671,321 shares of the software maker’s stock valued at $1,669,365,000 after acquiring an additional 58,905 shares during the period. Franklin Resources Inc. raised its holdings in shares of Manhattan Associates by 16.8% during the fourth quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock valued at $187,967,000 after acquiring an additional 125,541 shares during the period. Norges Bank acquired a new stake in shares of Manhattan Associates during the fourth quarter valued at approximately $146,984,000. TD Asset Management Inc raised its holdings in shares of Manhattan Associates by 10.5% during the first quarter. TD Asset Management Inc now owns 607,167 shares of the software maker’s stock valued at $151,931,000 after acquiring an additional 57,859 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Manhattan Associates by 0.3% during the first quarter. Bessemer Group Inc. now owns 561,901 shares of the software maker’s stock valued at $140,604,000 after acquiring an additional 1,757 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Price Performance

Shares of NASDAQ MANH traded up $23.83 during trading hours on Wednesday, hitting $249.83. 1,455,347 shares of the stock were exchanged, compared to its average volume of 419,822. The company’s 50 day moving average is $232.35 and its 200 day moving average is $233.98. The firm has a market capitalization of $15.38 billion, a P/E ratio of 81.64 and a beta of 1.50. Manhattan Associates, Inc. has a one year low of $182.97 and a one year high of $266.94.

Manhattan Associates (NASDAQ:MANH) last posted its quarterly earnings data on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.22. The business had revenue of $265.30 million during the quarter, compared to the consensus estimate of $255.83 million. Manhattan Associates had a net margin of 19.91% and a return on equity of 85.28%. Manhattan Associates’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. Research analysts anticipate that Manhattan Associates, Inc. will post 2.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MANH shares. Loop Capital boosted their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday. Redburn Atlantic began coverage on shares of Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective on the stock. Citigroup upped their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research note on Friday, June 28th. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 price objective on shares of Manhattan Associates in a research note on Wednesday, April 24th. Finally, StockNews.com upgraded shares of Manhattan Associates from a “hold” rating to a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.43.

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.