Manhattan Associates, Inc. (NASDAQ:MANH) Position Lessened by Capital Insight Partners LLC

Capital Insight Partners LLC reduced its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,347 shares of the software maker’s stock after selling 633 shares during the quarter. Capital Insight Partners LLC’s holdings in Manhattan Associates were worth $3,539,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Tobam bought a new stake in shares of Manhattan Associates during the first quarter valued at approximately $25,000. Benjamin Edwards Inc. bought a new stake in Manhattan Associates during the 1st quarter valued at $27,000. Contravisory Investment Management Inc. acquired a new position in Manhattan Associates during the 1st quarter worth $31,000. DT Investment Partners LLC bought a new position in shares of Manhattan Associates in the second quarter worth $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Manhattan Associates in the second quarter worth $37,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MANH. DA Davidson upped their price objective 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. Loop Capital raised their price objective on shares of Manhattan Associates from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, July 24th. StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Redburn Atlantic began coverage on Manhattan Associates in a research note on Tuesday, May 14th. They set a “buy” rating and a $260.00 price target for the company. Finally, Citigroup lifted their price target on Manhattan Associates from $220.00 to $257.00 and gave the company a “neutral” rating in a research report on Friday, June 28th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and a consensus target price of $257.43.

Insider Activity at Manhattan Associates

In other Manhattan Associates 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 transaction of $1,539,000.00. Following the sale, the executive vice president now directly owns 46,287 shares of the company’s stock, valued at approximately $11,872,615.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.72% of the stock is owned by insiders.

Manhattan Associates Stock Performance

Shares of NASDAQ MANH traded up $2.80 during trading on Friday, hitting $262.51. The company had a trading volume of 304,606 shares, compared to its average volume of 417,444. Manhattan Associates, Inc. has a 52 week low of $182.97 and a 52 week high of $266.94. The business’s 50-day moving average is $244.65 and its 200 day moving average is $238.47. The company has a market cap of $16.16 billion, a P/E ratio of 85.79 and a beta of 1.50.

Manhattan Associates (NASDAQ:MANH) last issued its earnings results on Tuesday, July 23rd. The software maker reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.22. Manhattan Associates had a return on equity of 84.54% and a net margin of 20.54%. The business had revenue of $265.30 million for the quarter, compared to analysts’ expectations of $255.83 million. During the same period in the previous year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts expect that Manhattan Associates, Inc. will post 3.01 EPS for the current year.

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.