Manhattan Associates, Inc. $MANH Stock: State of Wyoming Cuts Holdings

State of Wyoming lowered its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 55.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,579 shares of the software maker’s stock after selling 1,971 shares during the quarter. State of Wyoming’s holdings in Manhattan Associates were worth $314,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MANH. Bank of America Corp DE bought a new position in Manhattan Associates during the second quarter worth about $75,136,000. William Blair Investment Management LLC bought a new position in Manhattan Associates in the second quarter valued at approximately $94,049,000. BlackRock Inc. acquired a new position in shares of Manhattan Associates in the second quarter valued at approximately $944,285,000. Engineers Gate Manager LP lifted its position in Manhattan Associates by 1,309.1% in the 2nd quarter. Engineers Gate Manager LP now owns 132,846 shares of the software maker’s stock valued at $18,499,000 after acquiring an additional 123,418 shares in the last quarter. Finally, Man Group plc bought a new stake in Manhattan Associates in the 2nd quarter valued at $7,809,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Manhattan Associates

In related news, CEO Eric Clark sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was 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 directly owned 89,638 shares in the company, valued at approximately $17,726,810.88. The trade was a 3.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Linda Hollembaek sold 1,315 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $250.00, for a total value of $328,750.00. Following the completion of the transaction, the director owned 10,953 shares in the company, valued at $2,738,250. The trade was a 10.72% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.84% of the stock is currently owned by company insiders.

Manhattan Associates Stock Performance

Shares of MANH stock opened at $255.17 on Friday. The company has a market capitalization of $14.82 billion, a price-to-earnings ratio of 71.48 and a beta of 0.85. Manhattan Associates, Inc. has a 52 week low of $119.06 and a 52 week high of $263.47. The company has a 50-day simple moving average of $219.93 and a 200 day simple moving average of $168.32.

Manhattan Associates (NASDAQ:MANH) last announced its earnings results on Tuesday, October 27th. The software maker reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. Manhattan Associates had a return on equity of 98.67% and a net margin of 18.41%. The company had revenue of $306.19 million for the quarter, compared to analyst estimates of $297.01 million. During the same quarter last year, the company earned $1.36 earnings per share. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. Sell-side analysts forecast that Manhattan Associates, Inc. will post 3.88 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays increased their price objective on Manhattan Associates from $239.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial reaffirmed a “buy” rating and issued a $305.00 target price (up from $240.00) on shares of Manhattan Associates in a research report on Wednesday, October 28th. Robert W. Baird raised their price objective on Manhattan Associates from $218.00 to $260.00 and gave the company an “outperform” rating in a report on Wednesday, August 26th. Weiss Ratings upgraded Manhattan Associates from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Finally, DA Davidson increased their price objective on Manhattan Associates from $210.00 to $230.00 and gave the company a “neutral” rating in a report on Wednesday, October 28th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Manhattan Associates has a consensus rating of “Moderate Buy” and a consensus 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.