Manhattan Associates, Inc. $MANH Position Trimmed by Inspire Investing LLC

Inspire Investing LLC cut its position in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 9.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,551 shares of the software maker’s stock after selling 2,356 shares during the quarter. Inspire Investing LLC’s holdings in Manhattan Associates were worth $4,680,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of Manhattan Associates during the 2nd quarter worth about $944,285,000. Swedbank AB raised its holdings in shares of Manhattan Associates by 25.0% during the 1st quarter. Swedbank AB now owns 1,500,000 shares of the software maker’s stock valued at $199,680,000 after buying an additional 300,000 shares during the period. William Blair Investment Management LLC acquired a new position in Manhattan Associates during the 2nd quarter worth approximately $94,049,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Manhattan Associates by 2.0% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 673,608 shares of the software maker’s stock worth $89,671,000 after acquiring an additional 13,128 shares in the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of Manhattan Associates by 6.2% during the first quarter. Bessemer Group Inc. now owns 670,427 shares of the software maker’s stock worth $89,247,000 after purchasing an additional 39,125 shares in the last quarter. 98.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Manhattan Associates

In other Manhattan Associates news, CEO Eric Clark sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $197.76, for a total transaction of $593,280.00. Following the completion of the transaction, the chief executive officer directly owned 89,638 shares of the company’s stock, valued at $17,726,810.88. This trade represents a 3.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James Gantt sold 5,139 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $195.53, for a total transaction of $1,004,828.67. Following the completion of the sale, the executive vice president directly owned 55,676 shares of the company’s stock, valued at $10,886,328.28. The trade was a 8.45% decrease in their position. The SEC filing for this sale provides additional information. 0.84% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MANH has been the subject of several analyst reports. Stifel Nicolaus upped their target price on shares of Manhattan Associates from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, October 14th. 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. UBS Group reiterated a “buy” rating on shares of Manhattan Associates in a report on Wednesday, October 14th. DA Davidson lowered shares of Manhattan Associates from a “buy” rating to a “neutral” rating and set a $210.00 price objective on the stock. in a report on Monday, September 28th. Finally, Robert W. Baird upped 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. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $229.33.

Manhattan Associates Stock Down 1.6%

Shares of MANH opened at $238.19 on Friday. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of 68.25 and a beta of 0.95. The business’s 50 day moving average is $213.12 and its two-hundred day moving average is $171.81. Manhattan Associates, Inc. has a 52-week low of $119.06 and a 52-week high of $242.63.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, July 28th. The software maker reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.07. The business had revenue of $297.79 million during the quarter, compared to the consensus estimate of $289.03 million. Manhattan Associates had a net margin of 18.67% and a return on equity of 86.72%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 earnings per share. On average, equities analysts expect that Manhattan Associates, Inc. will post 3.87 earnings per share for the current fiscal year.

Manhattan Associates 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.