Manhattan Associates, Inc. $MANH Position Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lifted its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 0.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 711,615 shares of the software maker’s stock after buying an additional 3,658 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Manhattan Associates were worth $141,398,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Profund Advisors LLC acquired a new stake in shares of Manhattan Associates in the third quarter valued at $237,000. Vise Technologies Inc. boosted its stake in Manhattan Associates by 32.7% during the third quarter. Vise Technologies Inc. now owns 3,476 shares of the software maker’s stock valued at $691,000 after buying an additional 857 shares in the last quarter. Parcion Private Wealth LLC acquired a new position in Manhattan Associates during the third quarter worth about $250,000. Soltis Investment Advisors LLC acquired a new position in Manhattan Associates during the third quarter worth about $282,000. Finally, D.A. Davidson & CO. raised its position in Manhattan Associates by 6.5% in the third quarter. D.A. Davidson & CO. now owns 1,728 shares of the software maker’s stock worth $343,000 after acquiring an additional 106 shares in the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Manhattan Associates Trading Up 1.9%

MANH stock opened at $253.22 on Tuesday. Manhattan Associates, Inc. has a one year low of $119.06 and a one year high of $259.76. The firm has a market capitalization of $14.77 billion, a PE ratio of 70.93 and a beta of 0.95. The firm has a 50-day moving average of $217.36 and a two-hundred day moving average of $167.08.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09. The company had revenue of $306.19 million during the quarter, compared to analysts’ expectations of $297.01 million. Manhattan Associates had a net margin of 18.41% and a return on equity of 98.67%. The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the company posted $1.36 earnings per share. On average, equities research analysts anticipate that Manhattan Associates, Inc. will post 3.88 earnings per share for the current year.

Insider Activity

In related news, CEO Eric Clark sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total value of $593,280.00. Following the completion of the sale, the chief executive officer owned 89,638 shares in the company, valued at approximately $17,726,810.88. This represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.84% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MANH shares. Truist Financial reissued a “buy” rating and issued a $305.00 price target (up from $240.00) on shares of Manhattan Associates in a report on Wednesday, October 28th. Robert W. Baird raised their price objective on shares of Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a research report on Wednesday, August 26th. Wall Street Zen cut shares of Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Sunday. DA Davidson boosted their target price on shares of Manhattan Associates from $210.00 to $230.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. Finally, Weiss Ratings raised shares of Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $261.11.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops supply chain commerce software for retailers, wholesalers, manufacturers and logistics providers. Its solutions help organizations plan, execute and optimize inventory, warehouse, transportation and omnichannel fulfillment operations.

The company’s product portfolio includes warehouse management, transportation management, order management, inventory optimization, labor management and point-of-sale capabilities. Manhattan Associates also provides tools that support warehouse automation, store fulfillment, distributed order management and customer engagement across digital and physical retail channels.

Founded in 1990 and headquartered in Atlanta, Georgia, Manhattan Associates serves customers across North America, Europe, Asia-Pacific and other international markets.