Manhattan Associates, Inc. $MANH Stock Sold by M&G PLC

M&G PLC reduced its position in Manhattan Associates, Inc. (NASDAQ:MANH) by 18.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 159,398 shares of the software maker’s stock after selling 37,009 shares during the period. M&G PLC’s holdings in Manhattan Associates were worth $31,720,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in Manhattan Associates by 3.1% during the 2nd quarter. Allworth Financial LP now owns 2,587 shares of the software maker’s stock valued at $360,000 after buying an additional 77 shares in the last quarter. D.A. Davidson & CO. increased its stake in Manhattan Associates by 6.5% in the 3rd 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 during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Manhattan Associates by 7.4% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 1,772 shares of the software maker’s stock worth $366,000 after acquiring an additional 122 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of Manhattan Associates by 8.6% during the 3rd quarter. Motley Fool Asset Management LLC now owns 1,953 shares of the software maker’s stock worth $388,000 after acquiring an additional 155 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Manhattan Associates by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 12,202 shares of the software maker’s stock worth $1,624,000 after acquiring an additional 158 shares in the last quarter. 98.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Manhattan Associates news, Director Linda Hollembaek sold 1,315 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $250.00, for a total transaction of $328,750.00. Following the transaction, the director directly owned 10,953 shares in the company, valued at $2,738,250. This represents a 10.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.84% of the stock is owned by insiders.

Manhattan Associates Trading Down 0.4%

Shares of MANH opened at $251.72 on Tuesday. Manhattan Associates, Inc. has a twelve month low of $119.06 and a twelve month high of $263.47. The company has a market cap of $14.61 billion, a P/E ratio of 70.51 and a beta of 0.85. The company’s fifty day simple moving average is $221.08 and its 200-day simple moving average is $169.18.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, October 27th. The software maker reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. The firm 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 firm’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 EPS. Analysts predict that Manhattan Associates, Inc. will post 3.88 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MANH. Wall Street Zen downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Sunday, November 1st. Barclays boosted their price target on shares of Manhattan Associates from $239.00 to $275.00 and gave the stock an “overweight” rating in a research report on Monday, November 2nd. 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. Robert W. Baird increased 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. Finally, Morgan Stanley upgraded shares of Manhattan Associates from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $180.00 to $250.00 in a research report on Monday, October 12th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Manhattan Associates currently has an average rating of “Moderate Buy” and an average price target of $261.11.

Manhattan Associates Company Profile