Forsta AP Fonden Trims Stock Position in Manhattan Associates, Inc. (NASDAQ:MANH)

Forsta AP Fonden lessened its stake in Manhattan Associates, Inc. (NASDAQ:MANH) by 11.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,098 shares of the software maker’s stock after selling 4,500 shares during the quarter. Forsta AP Fonden’s holdings in Manhattan Associates were worth $8,411,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. CenterBook Partners LP acquired a new position in Manhattan Associates in the fourth quarter valued at approximately $761,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Manhattan Associates by 82.1% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 26,894 shares of the software maker’s stock valued at $5,791,000 after purchasing an additional 12,124 shares in the last quarter. Vinva Investment Management Ltd lifted its stake in shares of Manhattan Associates by 69.5% in the 4th quarter. Vinva Investment Management Ltd now owns 39,571 shares of the software maker’s stock valued at $8,570,000 after purchasing an additional 16,229 shares during the period. Weiss Asset Management LP purchased a new stake in Manhattan Associates during the fourth quarter worth $1,417,000. Finally, Boston Trust Walden Corp grew its position in Manhattan Associates by 3.3% during the second quarter. Boston Trust Walden Corp now owns 109,542 shares of the software maker’s stock valued at $27,022,000 after buying an additional 3,525 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Insider Transactions at Manhattan Associates

In other Manhattan Associates news, EVP James Stewart Gantt sold 6,000 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $256.50, for a total value of $1,539,000.00. Following the completion of the sale, the executive vice president now owns 46,287 shares in the company, valued at approximately $11,872,615.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Manhattan Associates from $220.00 to $257.00 and gave the stock a “neutral” rating in a research report on Friday, June 28th. Loop Capital upped their price target on Manhattan Associates from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, July 24th. DA Davidson increased their price target on Manhattan Associates from $260.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, StockNews.com cut Manhattan Associates from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Four equities 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, Manhattan Associates currently has a consensus rating of “Moderate Buy” and an average target price of $257.43.

Manhattan Associates Trading Down 0.1 %

NASDAQ:MANH opened at $263.74 on Friday. The stock has a 50 day moving average of $250.03 and a two-hundred day moving average of $239.88. Manhattan Associates, Inc. has a 12 month low of $182.97 and a 12 month high of $268.89. The firm has a market cap of $16.15 billion, a P/E ratio of 86.19 and a beta of 1.50.

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

Manhattan Associates 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.