Eagle Bay Advisors LLC Decreases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

Eagle Bay Advisors LLC lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 50.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 155 shares of the software maker’s stock after selling 156 shares during the period. Eagle Bay Advisors LLC’s holdings in Manhattan Associates were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Manhattan Associates in the fourth quarter worth $146,984,000. TD Asset Management Inc raised its stake in Manhattan Associates by 234.2% in the fourth quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock valued at $118,277,000 after buying an additional 384,941 shares during the last quarter. M&G Plc purchased a new stake in shares of Manhattan Associates during the first quarter worth about $77,433,000. Epoch Investment Partners Inc. grew its position in Manhattan Associates by 110.6% during the 4th quarter. Epoch Investment Partners Inc. now owns 369,352 shares of the software maker’s stock worth $79,529,000 after purchasing an additional 193,951 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in Manhattan Associates by 16.8% in the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after acquiring an additional 125,541 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors.

Manhattan Associates Trading Down 0.4 %

Shares of Manhattan Associates stock traded down $1.17 during trading hours on Wednesday, hitting $260.52. 71,431 shares of the company were exchanged, compared to its average volume of 412,670. Manhattan Associates, Inc. has a 1 year low of $182.97 and a 1 year high of $266.94. The business has a 50-day moving average of $245.71 and a 200-day moving average of $238.53. The stock has a market capitalization of $16.04 billion, a price-to-earnings ratio of 84.73 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 23rd. The software maker reported $1.18 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 return on equity of 84.54% and a net margin of 20.54%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. As a group, research analysts anticipate that Manhattan Associates, Inc. will post 3.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MANH has been the subject of a number of research reports. DA Davidson upped their price target on shares of Manhattan Associates from $260.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, July 24th. StockNews.com lowered Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Citigroup boosted their target price 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. Loop Capital raised their price target on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, July 24th. Finally, Redburn Atlantic initiated coverage on shares of Manhattan Associates in a research report on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price objective for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $257.43.

Insiders Place Their Bets

In related news, EVP James Stewart Gantt sold 6,000 shares of Manhattan Associates stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $256.50, for a total transaction of $1,539,000.00. Following the completion of the transaction, the executive vice president now directly owns 46,287 shares in the company, valued at approximately $11,872,615.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is currently owned by company insiders.

About Manhattan Associates

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.