PNC Financial Services Group Inc. Sells 108 Shares of Manhattan Associates, Inc. (NASDAQ:MANH)

PNC Financial Services Group Inc. cut its stake in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,620 shares of the software maker’s stock after selling 108 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Manhattan Associates were worth $564,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Morgan Stanley grew its stake in shares of Manhattan Associates by 0.9% during the 3rd quarter. Morgan Stanley now owns 1,522,444 shares of the software maker’s stock valued at $300,927,000 after acquiring an additional 13,303 shares during the period. Franklin Resources Inc. boosted its stake in Manhattan Associates by 16.8% in the 4th quarter. Franklin Resources Inc. now owns 872,966 shares of the software maker’s stock worth $187,967,000 after purchasing an additional 125,541 shares during the period. Norges Bank bought a new position in Manhattan Associates in the 4th quarter worth approximately $146,984,000. TD Asset Management Inc boosted its stake in Manhattan Associates by 234.2% in the 4th quarter. TD Asset Management Inc now owns 549,308 shares of the software maker’s stock worth $118,277,000 after purchasing an additional 384,941 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in Manhattan Associates by 2.6% in the 4th quarter. Principal Financial Group Inc. now owns 502,550 shares of the software maker’s stock worth $108,209,000 after purchasing an additional 12,536 shares during the period. 98.45% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MANH. Rosenblatt Securities restated a “neutral” rating and issued a $225.00 price target on shares of Manhattan Associates in a research note on Wednesday, April 24th. StockNews.com downgraded Manhattan Associates from a “buy” rating to a “hold” rating in a research note on Monday, May 27th. Redburn Atlantic initiated coverage on Manhattan Associates in a research note on Tuesday, May 14th. They issued a “buy” rating and a $260.00 price target for the company. Citigroup decreased their price objective on Manhattan Associates from $260.00 to $220.00 and set a “neutral” rating on the stock in a report on Wednesday, April 24th. Finally, DA Davidson upped their price objective on Manhattan Associates from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Manhattan Associates presently has an average rating of “Moderate Buy” and a consensus target price of $240.50.

Manhattan Associates Stock Performance

NASDAQ:MANH opened at $241.79 on Thursday. The stock’s fifty day moving average is $222.90 and its 200 day moving average is $230.67. Manhattan Associates, Inc. has a fifty-two week low of $182.97 and a fifty-two week high of $266.94. The firm has a market capitalization of $14.89 billion, a PE ratio of 79.02 and a beta of 1.48.

Manhattan Associates (NASDAQ:MANH) last released its quarterly earnings results on Tuesday, April 23rd. The software maker reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.23. Manhattan Associates had a return on equity of 85.28% and a net margin of 19.91%. The company had revenue of $254.55 million for the quarter, compared to analyst estimates of $243.32 million. Equities analysts forecast that Manhattan Associates, Inc. will post 2.72 EPS for the current year.

Manhattan Associates Company Profile

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.