Manhattan Associates, Inc. (NASDAQ:MANH) Shares Sold by Castleark Management LLC

Castleark Management LLC cut its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 86.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,020 shares of the software maker’s stock after selling 25,190 shares during the period. Castleark Management LLC’s holdings in Manhattan Associates were worth $1,006,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MANH. Motley Fool Asset Management LLC grew its position in Manhattan Associates by 21.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 1,182 shares of the software maker’s stock worth $296,000 after purchasing an additional 205 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in Manhattan Associates by 36.9% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,368 shares of the software maker’s stock valued at $1,093,000 after buying an additional 1,177 shares in the last quarter. Virtus Investment Advisers Inc. increased its holdings in shares of Manhattan Associates by 11.4% during the 1st quarter. Virtus Investment Advisers Inc. now owns 3,919 shares of the software maker’s stock worth $981,000 after buying an additional 400 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Manhattan Associates by 11.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 56,580 shares of the software maker’s stock worth $14,158,000 after buying an additional 6,018 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Manhattan Associates by 18.7% during the 1st quarter. Janus Henderson Group PLC now owns 2,746 shares of the software maker’s stock worth $687,000 after buying an additional 432 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Manhattan Associates Stock Down 1.1 %

MANH stock traded down $2.72 during midday trading on Thursday, hitting $252.66. The company’s stock had a trading volume of 68,604 shares, compared to its average volume of 425,850. The firm has a market capitalization of $15.56 billion, a P/E ratio of 83.21 and a beta of 1.50. The firm has a 50-day simple moving average of $234.46 and a 200-day simple moving average of $235.52. Manhattan Associates, Inc. has a 52-week low of $182.97 and a 52-week high of $266.94.

Manhattan Associates (NASDAQ:MANH) last released 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 analysts’ expectations of $255.83 million. Manhattan Associates had a net margin of 20.54% and a return on equity of 84.54%. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. On average, sell-side analysts expect that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on MANH shares. DA Davidson raised their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. Redburn Atlantic initiated coverage on shares of Manhattan Associates in a report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 target price for the company. William Blair reiterated a “market perform” rating on shares of Manhattan Associates in a report on Wednesday, April 24th. Rosenblatt Securities reiterated a “neutral” rating and issued a $225.00 target price on shares of Manhattan Associates in a report on Wednesday, April 24th. Finally, Citigroup lifted their target price on shares of Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average price target of $257.43.

Insider Activity at Manhattan Associates

In related news, EVP James Stewart Gantt sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at $11,872,615.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

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.